IGI Logo

Cottoncandy

Cotton candy prices settled slightly lower by 0.22% at Rs.54,320, driven by rising global cotton production projections for the 2024-25 season. Global cotton production is projected to rise by over 1.2 million bales to 117.4 million bales, supported by increased production in India and Argentina. In India, the three primary cotton-producing states - Punjab, Haryana, and Rajasthan - have witnessed a sharp decline of 43% in arrivals of kapas (unginned cotton) until November 30 compared to the same period last year. Cotton yarn prices in South India have increased due to rising demand from garment industries and strong export orders. The Cotton Association of India (CAI) has maintained its cotton consumption estimate for the 2024-25 season at 313 lakh bales of 170 kgs each. Additionally, cotton imports into India are expected to rise significantly to 25 lakh bales from 15.20 lakh bales last season, reflecting a 9.80 lakh bale increase. The ongoing crop year 2024-25 has already seen about 9 lakh bales arrive at Indian ports by November 30, with closing stocks estimated at 26.44 lakh bales by September 30, 2025, lower than last year's 30.19 lakh bales. The global cotton balance sheet for 2024/25 shows increased production, consumption, and ending stocks, with projected world production raised by 1.2 million bales to 117.4 million. Cotton candy prices are experiencing fresh selling, with open interest rising by 2.65% to 387 contracts and prices down Rs.120. Immediate support is seen at Rs.54,160, with a potential test of Rs.53,990. Resistance is likely around Rs.54,540, with a move above possibly testing Rs.54,750.

BUY COTTONCANDY JAN @ 54200 SL 54000 TGT 54400-54600. MCX

Cocudakl

BUY COCUDAKL JAN @ 2700 SL 2660 TGT 2740-2770. NCDEX

Kapas

BUY KAPAS APR @ 1500 SL 1485 TGT 1515-1525. NCDEX

Cotwasoil

SELL COTWASOIL JAN @ 1210 SL 1220 TGT 1200-1190. NCDEX