TEHRAN – Iran plans to export cotton in next Iranian year (to start March 21, 2008) due to the product’s global price hike, said the managing director of northern Khorassan Province’s Cotton Factories on Wednesday.

Talking to MNA, Mohammad Allafchi added that fortunately the cotton market has boomed, prompting cotton factories to export the product. Cotton imports and exports face no limitation, he said, predicting the product’s world price will reach $2 per kilo in the upcoming months. He called the decrease in the under-cultivation area in the world the main reason for the rise in price