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Textiles
Cotton
38
In August, the average price of US cotton futures increased by 13.1% m-o-m and 20.1% y-o-y to USc 112.5/lb as
severe drought has impacted US cotton production. About half of the Texas growing area is experiencing drought,
and it could be the region's driest year ever, thereby threatening cotton crop yields.
The average August price of Indian cotton reached INR 2,66,156/MT, up 8.2% m-o-m and 70.6% y-o-y. Prices
have been supported on the back of reports of crop losses due to pests and heavy rains across cotton-growing
areas in the country, despite a larger area under cotton this year. Cotton planting in India for the 2022/23 season
could rise by 15% y-o-y, as high cotton prices are likely to prompt farmers to switch away from other crops.
Cotton ICE NY US - C/lb
Aug 20 Nov 20 Feb 21 May 21 Aug 21 Nov 21 Feb 22 May 22 Aug 22
50
60
70
80
90
100
110
120
130
140
150
160
COTN - Cotton #2 ICE NY US (DH-0)
Cotton Shankar 6 spot IN - INR/MT
Aug 20 Nov 20 Feb 21 May 21 Aug 21 Nov 21 Feb 22 May 22 Aug 22
90,000
130,000
170,000
210,000
250,000
290,000
330,000
QW14 - Cotton Shankar 6 spot IN