Fears of a decline in production drove up cotton prices

Concerns about decreased output caused cotton candy to increase 0.27%, closing at 59940. In Gujarat, seeding grew by over 5% to 2,679,299.00 hectares, exceeding the 2,545,105.00 hectares seeded in the previous year.

However, India’s total area planted with cotton fell by roughly -1.82% between 2022 and 2023, from 124.82 lakh hectares to 122.56 lakh hectares. The Southern India Mills Association (SIMA) has been informed by the Cotton Corporation of India that the season’s cotton arrivals, which started in October of last year, had topped 318 lakh bales.

As a result of expected El Nio weather conditions and lower September precipitation, India is seeing its lowest monsoon rains in eight years. The price of cotton candy ended on the main spot market at a price where it decreased by a specific percentage.

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