The month of April has come to an end, but the cotton farmers are not getting the expected price level. The prices are constantly fluctuating. On the other hand, industries are now running at full capacity. The country's cotton consumption has also increased. But there is still pressure on cotton prices in the domestic market. Various estimates of cotton arrivals and production in the market are showing pressure on the market. At present, there is pressure on cotton prices in the country's market. Market flows were expected to taper off after mid-April. But the speed of arrival is constant.
In the month of April, the arrival of cotton in the market was between one lakh 20 thousand to one lakh 40 thousand bales per day. The market is under pressure as inflows exceed estimates. The cotton import pressure has been on the market since February and it is still visible today.
There are various discussions regarding the production of cotton in the country this year. According to farmers, there has been a huge decline in production this year. The Cotton Association of India also informed that the production of cotton has decreased this year as compared to last year.
CAI estimates 303 lakh bales. The estimates of CAI and farmers are somewhat similar. But the Cotton Production and Utilization Committee (CCPC) said 337 lakh bales have been produced this year.
Similarly, some multinational companies also said that this year's production is between 335 to 340 lakh bales. There seems to be a difference of opinion regarding the forecast of cotton production.
On the other hand yarn mills are saying that there is no demand for yarn. Since there is no demand for textile, there is no demand for yarn from textile industries. As a result, the industry is saying that rates are under pressure. But at the moment it is clear that the industries in the country are running profitably.
This was also confirmed by industry associations and some industries. But some experts say that farmers are trying to keep pressure on the price till the cotton reaches the market.
At present, the average price of cotton is available in the country's market in the range of Rs 7700 to 8200. The minimum price starts from 7 thousand rupees. Fardarad cotton prices are even lower. The cost of long staple cotton is the highest.
There is no pressure on cotton prices in the country. Hence, cotton market analysts predicted that the price may correct further if market penetration is limited.
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