Cottoncandy prices rose by 0.15% to ₹55,110 due to a downward revision in domestic crop estimates by the Cotton Association of India (CAI). CAI has reduced its 2024-25 production forecast by 4 lakh bales to 291.30 lakh bales of 170 kg each, mainly due to lower yields in Maharashtra.
Total cotton supply up to March-end is estimated at 306.83 lakh bales, with mills holding 27 lakh bales and the rest distributed among CCI, Maharashtra Federation, and traders. Despite a rise in imports, domestic supply concerns persist, keeping prices supported.
Exports are expected to fall to 16 lakh bales, and closing stocks for the season are projected lower at 23.49 lakh bales. The USDA’s April update indicates a slight reduction in global cotton production and mill use.
