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Strong demand and high price of cotton despite lockdown
Even after the disruptions caused due to the lockdown, cotton prices are trading at all-time highs. This is because the demand for cotton has been strong and the Indian mills are holding more than 100 days of inventory.
USDA: India’s cotton production to grow by 4%
The USDA has projected India’s cotton production for the upcoming season at 37.8 million bales. The Indian textile industry says a lot of it depends on the southwest monsoon.
What’s happening in India’s cotton & textile sectors
Textile sector is under stress in India. Recently, Mumbai-based Cotton Association of India (CAI) estimated that this year’s Indian crop (October 1, 2019-September 30, 2020) to be 33.55 million bales (170 kg each) as against its previous estimate of 33 million bales (170 kg each).
Cotton & MMF outlook-2020
World cotton production is projected to be lower than its consumption for the fourth year in row. This has marginally supported the cotton prices in CS19 despite the subdued demand.
Cotton price to rise 8-10%?
The Cotton Advisory Board CAB has revised its cotton output estimate to 370 lakh bales 1bale 170 kg from the previous estimate of 377 lakh bales for cotton season 2018 beginning October 1, 2017.
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