Global cotton market remains stable amidst minor price fluctuations

Global cotton markets has seen a period of relative stability over the past month, with only minor price fluctuations. Key benchmarks, such as the NY/ICE December futures and the global A Index, have remained within established ranges.

In the US, NY/ICE December futures have moved between 67 and 75 cents per pound since June. While a slight dip was observed after a peak in late September, prices have since stabilized near 71 cents per pound.

Globally, the A Index, a measure of world cotton prices, saw a marginal decline from 85 to 83 cents per pound. Similarly, China's Cotton Index (CC Index 3128B) decreased from 101 to 97 cents per pound. Domestically, this translates to a drop from 15,700 to 15,300 RMB per tonne.

In India, Shankar-6 quality spot prices fell from 87 to 83 cents per pound. Domestic prices decreased from Rs 57,400 to 55,100 per candy. The Indian rupee maintained its stability against the dollar at around Rs 84 per $.

Pakistan's cotton market also experienced a period of stability, with spot prices hovering around 80 cents per pound. Domestic prices fluctuated between Rs 18,200 and 17,600 per maund, currently settling at Rs 18,000 per maund. The Pakistani rupee remained steady at approximately Rs 278/$.