India is set to purchase a record volume of cotton from farmers in the new season due to weaker demand and cheaper imports. The government raised the minimum support price (MSP) by 7.8% to ₹8,110 per 100 kg, but market prices remain around ₹7,000. The Cotton Corporation of India (CCI) is preparing to buy unlimited…
India’s cotton closing stocks are expected to rise 47% to 57.59 lakh bales for 2024-25, largely due to a surge in imports. The Cotton Association of India (CAI) predicts that imports will more than double to 39 lakh bales from last year’s 15.20 lakh bales. Domestic consumption is expected to rise to 314 lakh bales,…
Cotton prices fell 0.5% to ₹53,920 despite the Cotton Association of India (CAI) cutting its crop estimate. The decline came despite weak buying sentiment and profit-taking by investors. CAI has cut its 2024-25 cotton production estimate by 4 lakh bales to 291.30 lakh bales, mainly due to lower production in Maharashtra. Cotton imports are expected…
