Cotton candy, a symbol for cotton prices, had a 1.05% gain in price to settle at 56,960 because of higher demand brought on by delays in shipments from key producers such as the US and Brazil. The demand for Indian cotton from mills in nearby nations has increased as a result of this delay.
Furthermore, despite continuous sowing activities for the Kharif 2024 season in southern states like Karnataka, Telangana, and Andhra Pradesh, which have begun receiving monsoon rains, stable cottonseed prices have contributed to the strength in natural fibre prices. The patterns of cotton planting in India are changing on a regional level.
Telangana is anticipated to witness a rise in cotton acreage as a result of certain farmers who are projected to convert from chilli to cotton due to the decline in the pricing of the spice crop. On the other hand, problems like growing pest infestations and growing labour expenses may cause North India’s cotton acreage to decline.
Globally, US cotton estimations for the 2024–2025 season indicate consistent production, domestic usage, and exports, along with higher beginning and ending stockpiles than earlier estimates. During the same era, world commerce remained unchanged, but initial stocks, output, and consumption of cotton were higher globally. Ending stock levels are expected to rise as a result of changes in regional production and consumption patterns.
