Yesterday, cotton candy prices saw a notable decrease in acreage, with Punjab, Haryana, and Rajasthan reporting just 10.23 lakh hectares under cultivation—a sharp decrease from the 16 lakh hectares recorded the previous year. As a result, cotton candy prices ended the day up 0.44% at 56980. Compared to the average 7.58 lakh hectares in the 1980s and 1990s, Punjab suffered a sharp decline to 97,000 hectares.
Cotton acreage decreased from 8.35 lakh hectares in Rajasthan to 4.75 lakh hectares this year, while in Haryana, it decreased from 5.75 lakh hectares to 4.50 lakh hectares by 2024. Another factor supporting cotton prices was the need from nearby mills for Indian cotton as a result of US and Brazilian shipments being delayed. Furthermore, strong cottonseed prices have supported the price of natural fibers, while the onset of monsoon rains in Karnataka, Telangana, and Andhra Pradesh has prompted the commencement of sowing for the kharif 2024 season.
Given the low prices of spice crops, the trade anticipates a rise in cotton acreage in Telangana as some farmers who grow chilies switch to cotton. In contrast to last month, the 2024–25 U.S. cotton predictions indicate larger beginning and ending stockpiles, while anticipated output, domestic use, and exports stay the same.
With closing inventories 400,000 bales higher at 4.1 million, or 28% of usage, the season-average upland farm price is down 4 cents from the May projection to 70 cents per pound. With no change in global commerce, the cotton balance sheet for 2024–2025 predicts increased beginning stocks, production, and consumption globally.
