Cotton candy prices rise due to cotton shortage in India

The price of cotton candy in India rose slightly due to a decrease in cotton planting in northern states. The area dedicated to cotton cultivation in Punjab, Haryana, and Rajasthan fell significantly this year compared to last year. This drop is attributed to factors like a decline in acreage planted with cotton historically in these regions.

Globally, cotton prices are also seeing some movement. Delay in shipments from major cotton producers like the US and Brazil have led to increased demand for Indian cotton. However, projections for the US cotton market in 2024-25 indicate a decrease in cotton prices despite higher production and ending stocks.

Analysts predict the Indian cotton candy market will likely experience some short-term volatility. With prices currently hovering around Rs 57,640, there's potential for a slight dip. However, the market is also showing signs of potential upward movement.