IGI Logo

Cotton

Cottoncandy prices rose by 0.83% to settle at Rs.54,380 per candy, supported by short covering after previous declines. Global cotton production for the 2024-25 season is projected to increase by over 1.2 million bales, reaching 117.4 million bales, driven by higher outputs in India and Argentina. Cotton yarn prices in South India showed strength due to increasing demand from garment industries and strong export orders. However, North Indian states like Punjab, Haryana, and Rajasthan saw a 43% decline in kapas arrivals till November 30, compared to the same period last year, causing supply concerns across the chain. The Cotton Association of India (CAI) has maintained cotton consumption estimates at 313 lakh bales for the 2024-25 season, with pressing estimates stable at 302.25 lakh bales. Cotton imports are projected to rise significantly to 25 lakh bales compared to 15.20 lakh bales last year. By November 30, approximately 9 lakh bales had already arrived at Indian ports. The closing stock for September 2025 is expected to drop to 26.44 lakh bales from 30.19 lakh bales in the previous year. Globally, world cotton consumption and ending stocks have been revised higher, while beginning stocks were reduced. The market exhibited fresh buying as open interest rose 0.29% to 346 contracts while prices gained Rs.450. Cottoncandy finds support at Rs.54,270, with further tests possible at Rs.54,150. Resistance is anticipated at Rs.54,480, and a breakout above could see prices testing Rs.54,570.

BUY COTTONCANDY JAN @ 54200 SL 53800 TGT 54600-54900. MCX

Cocudakl

BUY COCUDAKL JAN @ 2680 SL 2640 TGT 2720-2750. NCDEX

Kapas

BUY KAPAS APR @ 1490 SL 1480 TGT 1500-1510. NCDEX