Cotton prices on the rise

The widely-used Shankar 6 variety of cotton that is grown largely in Gujarat touched ₹60,500 a candy on Tuesday (April 21) which is about 8.5% higher than the price a month ago.

The Committee on Cotton Production and Consumption in India estimates Indian cotton production in the current cotton season that will end on September 30 to be close to 291 lakh bales. This will be 0.42% lesser than the production in the 2024-2025 cotton marketing season. Consumption by textile mills is on the rise and they are projected to use 312 lakh bales as against 306 lakh bales last year. “There is an urgent need to review the import duty on cotton as there is shortage of cotton in the country, affecting the textile industry, which is the largest consumer of cotton,” said Durai Palanisamy, chairman of the Southern India Mills Association.