India's cotton sector is pitting its stakes on a bumper production in 2007-08.
Textile exports are expected to reach $50 billion by 2014-15 on the back of new markets.
Chinese government was expected to start sales from its cotton reserves on March 6.
Soybean is trading at a 25 per cent premium to the MSP, after initially slipping below the government's threshold procurement price of Rs 2,850 a quintal.