فارسی
(3rd January 2024)
India
The Cotton Association of India has announced that the production rate of Indian cotton in 2023-24 will be 29.4 million bales (5 million tons). However, due to bollworm contamination in cotton fields in northern, southern, and central India, the production has decreased. To boost the textile industry, the Maharashtra government has decided to launch a new textile company in the advanced industrial sector of Maharashtra.
North India
On Wednesday, cotton prices in the North Indian market continued to rise. The prices had decreased by 15-25 rupees per maund ($0.008/kg). To get a better understanding of the cotton prices in different regions of North India, you can refer to the table below.
Central India
The price of cotton in the Indian central market did not change on Wednesday. The table below shows the cotton prices in various regions of central India.
Pakistan
The Karachi Cotton Association raised cotton rates by Rs 200 to Rs 17,500 ($62.16/kg) on Tuesday.
China
In December, China's PMI rose to 50.8, indicating an average growth in production as well as an increase in orders and sales. This is the fourth improvement in the PMI in the last five months. China's cotton production this year dropped by 6.1% to 5.62 million tons because of unfavorable weather. Despite a 7.1% reduction in cotton cultivation area, the yield efficiency increased by 1.1%.
International
According to reports, international cotton stocks dropped by over 1% due to a stronger US Dollar and increased selling by traders. Brazil's cotton shipments saw a 12% growth, reaching 253.71 thousand tons in November, compared to October 2023, but declined by 5.5% as compared to November 2022. As per the International Cotton Advisory Committee, global cotton production is expected to outpace consumption for the second consecutive year. The committee predicts that global cotton production will increase by 3.25% annually, reaching 25.4 million tons in the 2023-2024 season. On the other hand, consumption is expected to witness a slight decline, reaching 23.4 million tons.
