Cotton candy prices fell by 0.2% at 59,040, reflecting weakening ICE prices due to slow demand and improved crop conditions. Cotton acreage in India has decreased by 9% in the current kharif season, with 110.49 lakh hectares compared to 121.24 hectares last year.
The Cotton Association of India expects total acreage for the year to be around 113 hectares. Despite this, India’s cotton exports have increased, with exports to Bangladesh rising from 15 lakh bales to 28 lakh bales due to strong demand.
India’s cotton production and consumption are estimated at 325 lakh bales for 2023-24, with stock held by spinning mills, ginners, and the Cotton Corporation of India totaling around 60 lakh bales.
Globally, the 2024/25 cotton balance sheet shows reduced production, consumption, and stocks, driven mainly by lower production in the U.S. and India.
