In the first half of 2023, the cotton price trend in Asia-Pacific experienced fluctuations but showed an overall increase, driven by strong demand domestically and internationally. India's cotton production was adversely affected by weather challenges and other issues, leading to inventory depletion and price hikes. Some traders stockpiled cotton, further inflating prices. In the second quarter, declining consumer demand due to persistently high costs prompted traders to lower prices, supporting exports as international markets increased inquiries, benefiting from stabilized cotton prices.
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Definition
Cotton is a natural fiber derived from the seed-hair of the cotton plant (Gossypium species). It is valued for its softness, breathability, and absorbency, making it a popular material for textiles and clothing production. Cotton fibers are composed mainly of cellulose, making them strong and durable. They have excellent moisture-wicking properties, which make cotton garments comfortable to wear in warm weather. Cotton can be easily dyed and is versatile for various fabric types, from soft and fluffy to sturdy and durable, making it a highly sought-after textile material.
Key Details About the Cotton Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Cotton in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Cotton Price chart, including India Cotton price, USA Cotton price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Cotton Price Trend:
Cotton has a wide range of industrial uses due to its versatile properties. The textile industry is the primary consumer of cotton, using it to create clothing, bed linens, towels, and various fabric-based products. Additionally, cottonseed is processed to produce cottonseed oil, a crucial ingredient in the food industry for cooking oils and food products. Cotton fibers are utilized in the manufacture of nonwoven products like diapers and sanitary products. Cotton linters, short fibers adhering to cotton seeds, are employed in the production of paper, cellulose-based plastics, and explosives. Cottonseed meal serves as a valuable livestock feed and fertilizer, contributing to agriculture. Furthermore, cotton is used in medical supplies such as bandages and swabs, showcasing its versatility across multiple industrial sectors.
Key Players:
- Allenberg
- Dunavant Enterprises
- Cargill
- Trelleborg Engineered Coated Fabrics
News and recent development:
Cotton procurement begins in Punjab mandis, farmers hopeful of bumper season despite pink bollworm threat. In Punjab's Abohar, the first cotton picking, and procurement have begun. A fortnight after the second harvest of this cash crop, the procurement is likely to pick up. To date, mandis have received about 3,000 quintals of cotton with medium-length staples. The MSP for medium staple this year is Rs 6,620 per quintal and for long staple it is Rs 7,020. So far, proprietors of the ginning sector have only paid between Rs 6,500 and 6,621 a quintal, and commission agents have not offered extremely unusual sums.
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