India’s cotton imports are set to touch an all-time high of 39 lakh bales (170 kg each) in the ongoing 2024-25 crop year ending September, more than double last year’s 15.20 lakh bales, according to the Cotton Association of India (CAI).
The sharp rise has been attributed to lower global prices and higher demand from textile mills for contaminant-free cotton, said CAI President Atul Ganatra.
“Our prices are 10-12 per cent higher than the world market and that is the reason India has crossed 39 lakh bales of imports, close to 40 lakh bales,” Ganatra said.
The previous record was 31 lakh bales in 2022-23 when domestic prices had soared to ₹1 lakh per candy (356 kg).
Import Trends and Sources
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Of the projected 39 lakh bales, 33 lakh bales had already landed at Indian ports by the end of July.
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Nearly half of these imports came from Brazil, while 8-10 lakh bales arrived from African countries (duty 5.5%).
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Around 3 lakh bales were sourced from Australia under a duty-free quota.
Currently, Brazilian cotton is priced at ₹51,000 per candy (any port delivery), which comes to ₹56,000 after 11% import duty. Mills engaged in direct exports, however, can import under an open licence with a lower duty of 4.4%, making it more attractive.
Contracting for Next Season
Importers have already begun contracting for the upcoming 2025-26 season. In just the past 10 days, 1.5 lakh bales have been booked for October–December delivery, Ganatra said.
Trade Data
According to Commerce Ministry estimates:
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April–July 2025 cotton imports rose 61% in value terms to $383.22 million, compared to $238.30 million in the same period last year.
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April–March 2024-25 full year imports of cotton raw and waste reached $1.219 billion, up 104% from $598.66 million in the previous year.
Domestic Scenario
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Pressing estimates for 2024-25: 311.4 lakh bales (down from 336.45 lakh bales last year).
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Domestic demand: marginally higher at 314 lakh bales (vs. 313 lakh bales).
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Closing stocks: projected at 57.59 lakh bales (vs. 39.19 lakh bales last year).
