Recently, local sources in India pointed out that Cotton production is in a predicament, and it is predicted that the yield may decline from the previous forecast, and may even be lower than the average yield in the previous year. Previously, the Indian Cotton Advisory Committee (CAB) had forecasted 35.5 million bales (6,055,000 tons) of cotton production this year, but the cotton-producing area encountered adverse weather conditions from late September to early October, resulting in damage to cotton. Because of the increase in production costs, how much profit farmers can earn is also a problem.
India's domestic cotton prices have risen. Yesterday the Shankar-6 ginning mill had a pickup price of 39,500 rupees/candy and Punjab J-34 had a rupee of 3,705 rupees/maund.
Industry insiders questioned the decline in yields, arguing that it may be speculations to stimulate the market to rebound. In particular, as the new flower is about to be listed in large numbers, the buyer is waiting for prices to fall further.
Due to the Diwali holiday, seed cotton purchases have slowed down and it is expected that the progress will resume after the beginning of next week.
India's domestic cotton prices have risen. Yesterday the Shankar-6 ginning mill had a pickup price of 39,500 rupees/candy and Punjab J-34 had a rupee of 3,705 rupees/maund.
Industry insiders questioned the decline in yields, arguing that it may be speculations to stimulate the market to rebound. In particular, as the new flower is about to be listed in large numbers, the buyer is waiting for prices to fall further.
Due to the Diwali holiday, seed cotton purchases have slowed down and it is expected that the progress will resume after the beginning of next week.
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