The ICAC’s predictions for the 2024–25 season anticipate growth in cotton-producing areas, production, consumption, and trade. This led to a -0.58% decline in cotton candy prices, closing at 61,860. Cotton cultivation is expected to expand by 3% to 32.85 million hectares, yielding 25.22 million tonnes.
Consumption is forecasted to increase by 2.9% to 25.37 million tonnes, while global cotton trade will likely expand by nearly 4% to 9.94 million tonnes. CAI and CCI raised cotton output forecasts for 2023–24 to 309.70 lakh bales and 323.11 lakh bales, respectively.
This led to ICE futures prices declining due to increased supply projections and reduced mill demand. India’s 2024–2025 cotton production is estimated at 25.4 million 480 lb. bales, with a 2% boost in mill productivity. Removal of import duties on extra-long staple cotton is expected to prompt a 20% surge in imports.
