Cotton candy prices rose by 0.5% to ₹54,100 due to expectations that the Cotton Corporation of India will procure over 100 lakh bales at the Minimum Support Price. The Cotton Association of India revised its crop projections for the 2024-25 season by 2 lakh bales, bringing the total output to 304.25 lakh bales.
Domestic consumption estimates also increased by 2 lakh bales, reflecting strong market demand. Brazil’s 2024-25 cotton production forecast was slightly reduced to 3.79 million tonnes due to a decline in Mato Grosso’s planted acreage.
The U.S. cotton balance sheet saw minor adjustments, with domestic mill use reduced by 100,000 bales and ending stocks raised. China’s cotton crop is expected to increase by one million bales, balancing production declines in Argentina and Kazakhstan.
