India: Cotton and Products Update June 2021
Link to report:
Post forecasts MY 2021/22 cotton production at 29 million 480 lb. bales on an area of 12.9 million hectares. Kharif cotton planting is underway across India, however the pace of sowing is lagging in all states due to delayed winter crop harvest and delayed monsoon. The cotton minimum support price (MSP) was recently increased by four percent for MY 2021/22. Cotton shipments in May were the highest on record in the past eight years, indicating strong recovery in export demand. Post expects domestic consumption to rebound gradually as states relax lockdown measures that will allow retail stores to operate again.
