Cotton candy prices rose by 0.11% at 56,810, driven by the USDA’s revision of India’s cotton production forecast for the 2024-25 season to 30.72 million bales, down from previous estimates due to crop damage and pest issues.
However, the upside movement remains limited due to moderate demand and weak export activity, especially in key markets like Bangladesh. India’s cotton output is expected to remain at similar levels to last year, with higher yields from timely rains and lower pest incidence expected to balance the lower planting area.
Cotton exports for the 2023-24 season are estimated at 80%, reaching 28 lakh bales, driven by strong demand from countries like Bangladesh and Vietnam. The U.S. cotton balance sheet for 2024/25 has been revised downward, with lower production, exports, and ending stocks.
