Cotton candy prices fell by 0.44% due to sluggish demand and payment challenges in the yarn market. The USDA lowered India’s 2024-25 season cotton production estimate to 30.72 million bales due to crop damage and pest issues.
Global cotton production is projected to increase by over 200,000 bales, driven by China, Brazil, and Argentina. India’s cotton acreage dropped by 9% due to shifts in cropping patterns.
India’s cotton production is forecasted to decrease by 7.4% to 30.2 million bales, with higher imports and exports. Domestic demand for cotton is expected at 31.3 million bales for 2024-25.
The U.S. cotton balance sheet for 2024-25 shows lower production, mill use, and exports, impacted by Hurricane Helene. Global ending stocks have slightly declined to 76.3 million bales, with trade down by over 500,000 bales due to reduced imports by China.
