Cotton Price: Cotton prices have been continuously falling for the last 3 weeks. Cotton prices in the US have fallen below 69.50 per dollar pound. On November 29, the price crossed $73. There was a decline of more than 3% in a month. There has been a decline of about 15% by the beginning of 2024.
Cotton production is high in the world. Currently it is estimated to be 117.4 million bales. Due to which there is pressure in prices. An increase of 1.2 million bales was seen in November. More production took place in India and Argentina. An increase of 1 million bales was seen in India. An increase of 5,70,000 bales was seen in world consumption. Demand was high in Vietnam, Pakistan and India. It is expected to be at $69.74/pound this quarter. In March 2011, cotton prices reached a record high of $227.
CAI estimate
According to the Cotton Association of India (CAI), cotton consumption is possible at 313 lakh bales in 2024-25. CAI is estimating bumper production in the US in December. US production in December is 14.3 million bales. An increase of 64000 bales was seen compared to last month.
Will textile market grow?
The global e-textile market has grown. A turnover of $6.8 billion is expected by 2030. The turnover will be more than $2.5 billion in 2024. That’s a 19% increase since 2019, when the market was worth $1.1 billion in 2019.
If we look at the movement of cotton, it has seen an increase of 1 percent in 1 week whereas in 1 month cotton prices have declined by 4 percent. At the same time, from January 2024 till now, there has been a decline of 15 percent. There has been a pressure of 14 percent in cotton prices in one year.
What is the opinion of experts
Spinners Association VP Ripal Patel It is said that the spinners have suffered losses in the last 2 years, but now they will recover the losses. The annual acreage yield of cotton in India is 450-475 kg/ hectare, whereas in Brazil it will be 1800-1900kg/ hectare. Brazil’s cotton production has increased.
CAI President, Atul Ganatra Said that the price of cotton continues to fall. Cotton prices in the US have fallen by 30-35 percent. In America, they have fallen from $102 to $69. Whereas in India the price slipped from Rs 62000 to Rs 54000. In India, CCI is purchasing 70 percent of the goods at MSP. The prices have increased slightly due to CCI’s purchase of 70% cotton at MSP. There is less work for ginners and traders in India. Spinners have made profits.
Atul Ganatra further said that not much growth is expected in 2025. There is sufficient stock of cotton in the world. Cotton prices are likely to decrease.
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