NEW YORK (Commodity Online): Global cotton prices likely to remain lower for coming year on the back of good weather forecast for US, one of the largest producer of cotton in world.

Rain is one of the major factor for the proper growth of cotton and according to Weather Department, the present weather conditions in cotton growing regions in US are favourable for the growth.

Presently, due to global surplus production in 2011-12, the prices of cotton in global market has been trading down and it is likely to continue for next year also.

Global cotton production for 2011-12 is expected to be around 27 million tons (mt) as compared to 25 mt during 2010-11 with record production in India, china and US.

India, the second largest producer of cotton, likely to export more 2 million bales of cotton, taking the total cotton exports to new record of 13.5 million bales for 2011-12.

India is expected to produce around 35.2 million bales for 2011-12.

In Inter-continental Exchange (ICE), cotton for May delivery traded down 0.07 cents to 86.11 cents per bushel on Wednesday.

And In India's National Multi commodity Exchange (NMCE), cotton for February delivery traded down 0.845 to Rs 1076 per bushel on 9th May.