Due to delays in shipments from major producers such as the US and Brazil, the price of cotton candy climbed by 0.81% to settle at 58250. This resulted in a greater demand for Indian cotton among mills located in neighboring nations. Even though the southern Indian states had begun planting for the Kharif 2024 season after the monsoon rains, this increase in demand along with stable cottonseed prices helped to sustain the price of natural fibers.
The future of cotton acreage in India is not entirely clear. While Telangana expects plantings to rise as a result of farmers switching from other crops, such as chilies, to cotton due to low prices, North India is confronted with issues like pest infestations and increased labor costs, which could result in acreage reductions of approximately 25%. Global estimates for the US cotton market for 2024–2025 indicate increased beginning and ending stocks while maintaining constant production, domestic consumption, and exports.
However, because new-crop cotton futures are decreasing, the season average upland farm price is down to 70 cents per pound. Increased beginning inventories, output, and consumption are shown globally in the cotton balance sheet for 2024–2025; higher world-ending stocks are predicted to be 83.5 million bales. Cotton prices slightly increased to 27001.25 Rupees in Rajkot, a significant spot market, indicating stable trade sentiment locally despite changes in the worldwide market.
