Cotton candy prices dropped by 0.4% to ₹54,200, driven by Brazil’s strong supply projections and higher procurement by the Cotton Corporation of India (CCI).
Brazil’s 2024-25 cotton production is expected to rise by 1.6%, while CCI is set to procure over 100 lakh bales at the Minimum Support Price, supporting domestic cotton prices.
India’s cotton production is expected to decline to 301.75 lakh bales due to lower yields in Gujarat, Punjab, and Haryana.
By January 2025, the total cotton supply is projected at 234.26 lakh bales, with consumption at 114 lakh bales and exports at 8 lakh bales. The season’s total exports are forecasted to drop to 17 lakh bales from 28.36 lakh bales last season.
