Cotton candy prices fell by 0.61% to 56,920 due to weak yarn market demand and payment constraints. The USDA reduced India’s cotton production forecast for the 2024-25 season to 30.72 million bales, with ending stocks lowered to 12.38 million bales due to crop damage.
Global cotton production estimates have been raised by over 200,000 bales, with increases in China, Brazil, and Argentina offset reductions in the U.S. and Spain.
India’s cotton production is projected to fall by 7.4% from the previous year, with acreage down by 9% and farmers shifting to other crops.
Exports are expected to fall to 1.8 million bales, leading to increased imports. U.S. cotton production is expected to be lower due to Hurricane Helene damage, while global trade is projected to decrease by 500,000 bales.
