India: Cotton and Products Update
Link to report:
Post estimates cotton production at 28.9 million 480-lb bales in marketing year (MY) 2020/21 on an area of 12.9 million hectares. While good climatic conditions accelerated the pace of planting across all major cotton growing states, the planting area estimate has been increased due to the rapid pace of planting particularly in the state of Telangana. The minimum support price was recently increased by five percent for MY 2020/21. The Cotton Corporation of India lowered the base price to encourage the offloading of large inventories procured under the minimum support price program. Exports have improved marginally, but consumption remains weak, as mills open up gradually to cater to pent up demand.
