Cotton Commodity Insights

Current Market Developments:

  • Cotton prices in most of the spot markets have remained steady due to limited purchases made by spinning mills as they have sufficient stocks for consumption. Arrivals in markets have remained steady.

  • The cotton yarn market in south India, including Mumbai and Tiruppur remains bearish with stable prices despite increasing cotton costs. Traders express inability to raise yarn prices owing to amplified production costs and a steady influx of Chinese garment imports affecting the textile value chain.
  • The new crop arrivals are expected to be delayed as good amount of rainfall is reported from most of the cotton growing states. After 15th October arrivals are likely to hit markets. The Minimum Support Price for cotton during 2023-24 is fixed at Rs 7020 per quintal as against Rs 6380 per quintal.
  • In Maharashtra, crop condition has turned favourable as good amount of rainfall is witnessed in parts of Vidarbha. However, in Jalna, Aurangabad, Amravati districts still have not received the required amount of rainfall.    
  • In north India pink bollworm is likely to affect the crop yield in parts of Punjab, Rajasthan, and Haryana. While in southern India, current cotton acreage in Andhra Pradesh is declined by 39 percent, Karnataka acreage has declined by 19 percent and Telangana around 10 percent decline in acreage is estimated. Overall, in India the cotton crop acreage is estimated to decline by 3 percent.
  • According to the 3rdd crop advance estimates 2022-23 by the Ministry of Agriculture, Cotton production is estimated higher at 343.47 lakh bales as against 312.03 lakh bales during 2021-22.

Cotton Price Movement Vs Seasonality at Key Markets

State-wise Cotton Production Trend

Current Kharif Season Acreage (Lakh Hect.)

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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