As of January 11, the price of seed cotton in Punjab, India, was stable at 5,200-5,350 rupees/quintal, and the volume of new cotton on the market has increased for the second consecutive week. In the same period of 2017, the price of Indian seed cotton was 5,600-5,700 rupees/quintal. Since the current spot price is higher than MSP (Rs. 4,220/quintal), market transactions are all private traders, and CCI has suspended acquisitions.
As of December 31, 2017, the cumulative volume of new cotton on the market in northern India reached 3.323 million bales, and the target market volume was 5.75 million bales, which were higher than the 2.322 million bales and 4.5 million bales in the same period last year respectively.
According to the Indian Cotton Association, the cotton planting area in the three northern states of India (Rajasthan, Punjab, and Hayana) this year increased from 1.3 million hectares to 1.541 million hectares, an increase of 16%. The total cotton market volume is expected to be year-on-year. With an increase of 1.2 million bales, output is expected to increase by 27%. High cotton prices in India CCI suspends acquisition
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