Global cotton benchmarks flat or lower over past month

The A Index followed the same pattern as NY/ICE futures. Values varied between 88 and 93 cents/lb.  Current prices are 92 cents/lb, as per Cotton Incorporated’s Cotton Market Fundamentals & Price Outlook - July 2023.

After edging higher in recent months, Chinese prices (China Cotton Index or CC 3128B) were flat over the past month, trading near 110 cents/lb. In domestic terms, prices hovered around 17,400 RMB/ton. The RMB weakened slightly against the dollar, from 7.13 to 7.20 RMB/USD.

Indian spot prices (Shankar-6 quality) shifted slightly lower in recent trading, easing from levels near 89 in much of June to values near 86 cents/lb more recently. Domestic prices decreased from ₹58,000 to 55,500 per candy.  The INR was steady against the dollar, holding near ₹82 per USD.

Pakistani prices fell from 85 to 74 cents/lb over the past month. In domestic terms, prices dropped from 20,500 to 17,000 PKR/maund. The Pakistani rupee strengthened from 285 to 279 PKR/USD.

ALCHEMPro News Desk (KD)