Cotton prices have recently witnessed a decline due to profit booking and subdued global demand. Rising concerns over the global economic outlook�especially following the imposition of U.S. import duties�have reportedly dampened demand, putting pressure on prices in both domestic and international markets. Despite this, some support for prices is coming from better demand from local spinning mills, lower domestic output, and reduced carryover stock estimates. In its latest projection, the Cotton Association of India (CAI) revised its 2024�25 cotton crop estimate downward by 400,000 bales to 29.13 million bales (each weighing 170 kg), mainly due to a drop in production in Maharashtra. Meanwhile, the Cotton Corporation of India (CCI) has procured around 10 million bales of cotton at the Minimum Support Price (MSP) so far for the 2024�25 marketing season. The Cotton Advisory Board (COCPC) also revised its second production estimate down by 1.67% to 29.425 million bales, citing a decline in yield and output in Gujarat�the country�s largest cotton-producing state. In the futures market, cotton prices on the Multi Commodity Exchange (MCX) are expected to trade in the range of ₹52,920 to ₹54,920. April 2026 cotton futures are projected to trade between ₹1,555 and ₹1,605. Cottonseed oilcake (Cocud) prices are likely to stay within ₹2,830�₹2,930. While lower production and government procurement offer some price support, global economic uncertainty and weakening export demand continue to weigh heavily on the cotton market. Farmers and investors should remain cautious and closely monitor price movements in the coming months.