Cotton prices continue to rise.
The Shankar 6 variety, widely grown in Gujarat, reached ₹60,500 per candy on Tuesday (April 21), about 8.5% higher than a month ago.
According to the Indian Cotton Production and Consumption Committee, the country's production in the current cotton season (ending on September 30) is estimated to be around 291 lakh bales, which is about 0.42% less than the 2024-25 season. On the other hand, domestic consumption is likely to increase to 312 lakh bales, compared to 306 lakh bales last year.
South India Mills Association President Durai Palanisamy said that in view of the shortage of cotton in the country, it is necessary to immediately review the import duty, so that the pressure on the textile industry can be reduced.
According to Indian Cotton Federation Secretary Nishant Asher, global cotton futures prices are also seeing a rise. Prices for July delivery rose from 64.5 cents a pound to about 79.8 cents. Over the past three years the range has typically been between 64–70 cents.
Global production is also expected to be 1.5–2.5 million bales lower than earlier estimates. Production may be affected due to less rainfall in major producing countries like America and Brazil, although the situation is not completely clear yet.
Additionally, rising crude oil prices are making polyester costlier, shifting some demand in the textile industry towards cotton, further supporting prices.
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