Over the past month, global cotton markets experienced minor price fluctuations with trends showing stability or slight declines across key benchmarks, according to Cotton Incorporated.
On the New York Intercontinental Exchange (NY/ICE), December futures have remained within a range of 67 to 75 cents per pound since June. After hitting the higher end of this range in late September, prices dipped but have since stabilised around 71 cents per pound.
A benchmark for world cotton prices, the global A Index decreased slightly from 85 to 83 cents per pound. In China, the Cotton Index (CC Index 3128B) dropped from 101 to 97 cents per pound, or from 15,700 to 15,300 RMB per tonne. This decline aligns with a mild weakening of the yuan, which shifted from 7.05 to 7.16 RMB/USD, as detailed in Cotton Incorporated’s November 2024 Monthly Economic Letter on Cotton Market Fundamentals & Price Outlook.
In India, Shankar-6 quality cotton spot prices fell from 87 to 83 cents per pound, with domestic prices decreasing from Rs 57,400 to Rs 55,100 per candy. The Indian rupee remained relatively stable against the dollar at around Rs 84 per USD.
Pakistan’s cotton market remained steady, with spot prices fluctuating around 80 cents per pound. Domestically, prices traded between 18,200 and 17,600 PKR per maund, currently sitting at 18,000 PKR per maund, while the Pakistani rupee held firm at approximately 278 PKR/USD.
