1. ICE Cotton Futures Drop
Amid Strong Dollar & Profit-Taking
Cotton futures at ICE faced
a downturn as profit-taking set in amid a stronger US dollar. The December 2024
contract closed at 72.16 cents per pound, marking a decline of 0.66 cents. A
stronger dollar, which raises costs for overseas buyers, added pressure on
demand.
USDA reports that US cotton
quality remains solid at 39%, with boll setting at 54%. Traders now look to the
Federal Reserve's upcoming meeting, expecting potential shifts in interest
rates to influence cotton prices further.
2. Cotton Prices Surge in
Gujarat Due to Reduced Sowing Area and Rain Concerns
In Gujarat, cotton prices
have surged past ₹8,500 per quintal at APMC mandis, the highest in three years.
Heavy rainfall has impacted cotton yields, causing supply concerns. This has
brought hopes of better returns for farmers as they prepare for the cotton
harvest. Rajkot APMC prices now hover between ₹7,500-₹8,525 per quintal, a
significant increase from previous months.
3. Researchers Discuss
Strategies to Boost Cotton Productivity in North India
The Central Cotton Research
Institute in Sirsa recently hosted a high-level conference focused on boosting
cotton productivity in the region, considering shifting climate patterns.
Discussions revolved around pest management, with a special focus on combating
whiteflies and pink bollworms. Scientists highlighted the role of
micro-irrigation and nutrient management, offering innovative solutions to
bolster cotton yields across Northern India.
4. Cotton Picking Begins in
Punjab with Predicted Doubling of Yield
Cotton picking has officially begun in Punjab, and experts predict that this season’s yield will double compared to last year. Minimal pest impact and improved farming practices have sparked optimism among farmers, particularly in the state’s semi-arid districts. This development may reverse the recent trend of farmers abandoning cotton in favor of other crops.
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