India's cotton yield may decline in the industry expressed doubt

Recently, local sources in India pointed out that cotton production is in a predicament, and it is predicted that the yield may decline from the previous forecast, and may even be lower than the average yield in the previous year. Previously, the Indian Cotton Advisory Committee (CAB) had forecasted 35.5 million bales (6,055,000 tons) of cotton production this year, but the cotton production area suffered adverse weather from the end of September to early October, resulting in cotton damage. Because of the increase in production costs, how much profit farmers can earn is also a problem.

India's domestic cotton prices have risen. Yesterday the Shankar-6 ginning mill had a pickup price of 39,500 rupees/candy and Punjab J-34 had a rupee of 3,705 rupees/maund.

Industry insiders questioned the decline in yields, arguing that it may be news of speculation to stimulate the market to rebound. In particular, as the new flower is about to be listed in large numbers, the buyer is waiting for prices to fall further.

Affected by Diwali Holidays, seed cotton purchases have slowed down and it is expected that progress will be resumed after early next week.