Weekly Cotton Market Update – Week 15, 2026

India's textile demand map gets clearer:
The National Household Survey 2024, released on April 6, estimated India’s textile market at ₹14.95 lakh crore in 2024, up from ₹4.89 lakh crore in 2010, with household demand rising from ₹4.18 lakh crore to ₹8.77 lakh crore and per-capita demand from ₹2,119 to ₹6,066. MMF and blends held 52.2% share, cotton 41.2%, and cotton demand rose from ₹0.87 lakh crore to ₹3.53 lakh crore. This matters because cotton still accounts for 41.2% of the product basket even as MMF and blends lead overall demand. This suggests India’s domestic market remains a large structural demand base for cotton, but future growth will increasingly depend on how cotton competes with blended and MMF products.

Export momentum faces a fresh test:
Between April 2025 and February 2026, India exported cotton and man-made yarns, fabrics, and ready-made garments worth about $29.5 billion versus about $29.8 billion a year earlier. The report said polyester prices rose more than 40% since the start of the war, Filatex cut production by 25%, and sector growth was averaging around 9% against the 12% to 15% CAGR needed. That matters because cotton is part of the same export basket now facing tariff pressure, cost volatility, and weaker recovery momentum. Net-net, if MMF input costs stay high and export growth stays below target, cotton-led value chains may hold relatively steadier, but the broader textile export engine still looks strained.

India loses ground, but less than China:
US textile and apparel imports from India fell 18.2% year on year in January and 28.7% in February, with shipments at $0.71 billion and $0.63 billion, respectively, taking the two-month total to about $1.34 billion. China dropped to $1.08 billion in January and $1.04 billion in February, while Vietnam rose to $1.64 billion and $2.35 billion. This matters because India’s cotton-rich textile chain is still facing lower US demand, even if its relative performance is better than China’s. Expect cotton-linked exporters to take some comfort from improving competitiveness, but scale, speed, and trade access still leave India behind Vietnam.

Gartex puts textile capacity on display:
Gartex Texprocess India Mumbai ran from April 9 to April 11 at the Bombay Exhibition Centre, with more than 125 companies, over 500 products, and 300 brands expected to participate. The event covered apparel and garment manufacturing technologies, denim manufacturing, fabrics, trims, accessories, textile printing, and included Denim Show participants such as Ginni International, LNJ Denim, Oswal Denim, Siyaram’s, and Syama Denims. This matters because denim, fabrics, trims, and manufacturing technologies sit directly in the cotton value chain from mill to garmenting. That likely means industry attention is still focused on upgrading productivity and product capability rather than pulling back from cotton-linked manufacturing.

ICE cotton pushes to an 11-month high:
ICE cotton futures jumped on April 10, with the May 2026 contract settling at 73.26 cents per pound, up 1.59 cents or 2.22%, and the December 2026 contract at 76.87 cents per pound, up 1.40 cents. USDA weekly export sales were 319,600 bales, ICE certified stocks were 128,213 bales as of April 8, and session volume reached 143,973 contracts. This matters because stronger ICE cotton raises the reference point for global cotton trade, mill buying, and import-export parity. Expect firmer cotton price sentiment if drought risks persist and export sales stay supportive, even though downstream buyers may turn more cautious on raw-material costs.