Cotton Commodity Insights

Current Market Developments:

  • In the last couple of weeks cotton prices in most of the domestic markets remained range bound due to steady buying from spinning mills against sufficient supplies. Trading activities in most of the domestic markets have remained weak because of festive holidays.

  • According to market sources, spinning mills are procuring cotton in limited quantities resulting in stable cotton prices in Rajasthan. Moreover, mills in the state have lower cotton stocks. Therefore, it is expected that there will be an increase in purchases by the mills in the coming days.
  • In Tamil Nadu cotton prices remained steady tracking weak buying demand from weaving sector due to Diwali holidays. Cotton yarn prices in Tiruppur, with a 30-count combed at ₹258-263 per kg, and a 40 count at ₹280-285 per kg, without GST.
  • In Maharashtra, steady increase in purchase by spinning mills has resulted in slight firmness in prices. Trade anticipates higher yarn demand in coming days mainly from the spinning mills. Cotton yarn prices in the state have remained steady. The reported price range for 60 carded yarn varieties offered around Rs 240-265 per kg, without GST.
  • This year the cotton production is estimated to decline mainly in Maharashtra, Telangana, Karnataka, Andhra Pradesh, and Tamil Nadu due to deficient rainfall in major cotton belts. As per the First Advance Estimates by Ministry of Agriculture, Cotton production for 2023-24 is estimated to decline by 6 percent at 316.57 lakh bales (of 170 kg each) as compared to 336.6 lakh bales (of 170 kg each) during 2022-23 period.

Cotton Price Movement Vs Seasonality at Key Markets

State-wise Cotton Production & Acreage

Domestic Cotton Supply & Demand Scenario

Global Cotton Supply & Demand Scenario

Disclaimer:
This report is prepared by “agribazaar”. Information and opinions in this report have been taken from publicly available data and from sources believed to be reliable. Neither the report nor any part of the report shall be replicated without the written consent. agribazaar does not make any representations or warranties in relation to the accuracy, completeness and correctness of data or information contained in this report. Use of the data, information or opinions contained in this report is at the sole risk of the recipient of this report, and any such data, information or opinion should be independently verified. agribazaar, its affiliates, their officers, directors, and employees shall not be responsible for any loss or damage that may arise to any person from any error in the data, information or opinion contained in this report. “agribazaar” 2023.

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