Daily cotton arrivals for January 8, total 136 lakh bales: CAI

The Cotton Corporation of India (CCI) has procured approximately 46 per cent of the total market arrivals of raw cotton for the 2024-25 marketing season. Latest data shows, CCI has purchased over 63 lakh bales, close to half of the estimated 136 lakh bales arriving in the market.

Regional procurement has been notable in Telangana, with 32 lakh bales procured, followed by 16 lakh bales in Maharashtra. Other states like Gujarat, Andhra Pradesh, Karnataka, and Madhya Pradesh have also contributed to the procurement figures.

Despite CCI’s aggressive purchasing, cotton prices remain below the minimum support price (MSP), which is set at Rs 7,121 per quintal for medium staple cotton and Rs 7,521 per quintal for longer varieties. Prices in key markets are ranging between Rs 7,100-Rs 7,200 per quintal. Although cottonseed prices have risen by 10-15 per cent, supporting cotton prices, mill demand remains sluggish with no bulk purchases reported.

According to the Cotton Association of India (CAI), daily arrivals are exceeding 2 lakh bales, predominantly from Maharashtra and Telangana. The total crop size for the 2024-25 season is estimated at 299.26 lakh bales, slightly lower than the previous year due to reduced acreage.