Cotton declined due to profit-taking

Prices for cotton candy saw a little decrease of -0.45%, ultimately finishing at 56960. This was ascribed to profit booking following previous gains. The Cotton Association of India (CAI) has estimated that reduced planted acres and the influence of El Niño weather conditions will cause India’s cotton production for 2023–2024 to decline by 7.5% to…

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Gains in cotton are due to reports that the pink bollworm is destroying the cotton belt in Haryana

A pink bollworm infestation reportedly damaging the cotton belt in Haryana caused cotton prices to rise 0.63%, closing at 60900. The 2023–24 Cotton prognosis indicates that the global cotton industry is, nonetheless, struggling with decreased production and consumption. Forecasts for 2023–2024 in the United States show higher beginning stocks but decreased output, exports, and ending…

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