India's cotton prices rise, the industry expects large exports

According to Indian media reports, due to rising international cotton prices and declining domestic production, Indian cotton prices have risen by 5% in the past month, from 44,000 rupees/kander a month ago to 46,000 rupees/kander. This year, India’s domestic cotton production was only 33 million bales, which was much lower than the 40 million bales estimated earlier.　　 Despite this, Indian cotton prices are still 13% cheaper than global cotton prices, and exports are expected to be higher than the previously estimated 6 million tons. Currently, Indian traders are paying attention to whether the Pakistani government is opening the door for Indian cotton. Due to ideal market prices and good demand from traders and textile mills, Cotton Corporation of India (CCI) has sold 75% of its cotton stocks this year.　　 In 2020/21, India's CCI purchased 9.2 million bales of cotton at the minimum support price (MSP). The total inventory of 20.7 million packages is only 5 million packages left. Article Keywords: 　Indian Cotton