Cotton Market Report
Decrease in Area: This Kharif season has seen a significant decrease in the sowing of certain agricultural products compared to last year, with cotton being a major example. The area under cotton cultivation has dropped from 12.311 million hectares in 2023 to 11.174 million hectares in 2024, a reduction of 1.137 million hectares. Sowing Status: Sowing of the cotton crop is nearly complete, and in the coming weeks, harvesting and preparation of new cotton will begin. Early Sowing in Northern States: In the northern states of Punjab, Haryana, and Rajasthan, early sowing of cotton occurs in April-May, so the new cotton from these areas generally arrives earlier. Farmer Disinterest: Due to unattractive market prices and the threat of pests and diseases, farmers in the northern states have shown less interest in cotton cultivation this year, leading to a significant reduction in area under cotton in these states. Major Producing States: In Gujarat, the largest cotton-producing state, there has been a substantial reduction of about 300,000 hectares in the cotton sown area. Similarly, in Maharashtra, Telangana, and Andhra Pradesh, the area under cotton sowing has also lagged behind last year. However, Karnataka and Madhya Pradesh have seen a slight increase in cotton acreage. Crop Condition: Generally, the cotton crop in major producing states is reported to be in good condition. However, heavy rains and waterlogging in fields have caused some damage in certain areas. Production and Price Trends: As a result, there is a strong possibility of a decline in cotton production. Cotton prices have started to improve gradually and could rise further due to strong demand from Bangladesh.