Cotton candy prices are expected to decline by 0.26% to ₹54,530 per tonne in CY 2024-25, while global production is expected to increase by 1.2 million bales to 117.4 million bales due to higher supplies in Argentina and India. Cotton supplies in North India (Punjab, Haryana and Rajasthan) have declined by 43% year-on-year as of November 30, 2024, as farmers hold back their produce in anticipation of better prices.
India’s cotton production is expected to decline by 7.4% to 30.2 million bales in 2024-25, mainly due to crop damage caused by heavy rains and reduced area under cultivation. India is expected to import 2.5 million bales of cotton (down from 1.75 million the previous year) and export 1.8 million bales (down from 2.85 million).
Globally, the US cotton production in 2024-2025 is projected to increase to 14.3 million bales, with Brazil, Benin and Senegal likely to increase their exports, while global trade is also expected to increase.
