The cotton supply estimated by the CAI till end of the cotton season 2022-23 i.e., up to September 30, 2023, is 387.89 lakh bales. The total cotton supply consists of the opening stock of 31.89 lakh bales. The imports for the season are estimated to be at the same level at 12 lakh bales and the imports for the corresponding year 2021-22 are estimated at 14 lakh bales. The exports for the season have been estimated at 30 lakh bales, 5 lakh bales lower than the previous estimate, CAI said in a press release.
After a drastic fall in cotton production in the last season, India cannot expect a bumper crop in 2022-23. Recent industry estimates projected a decline in production in north India due to low productivity. However, Gujarat’s crop has compensated for north India’s loss. CAI has maintained production estimates at 344 lakh bales of 170 kg for MY 2022-23.
The exports estimate for the previous cotton season 2021-22 was 43 lakh bales. The carry-over stock, which was earlier estimated at 32.89 lakh bales, is now estimated at 57.89 lakh bales.
CAI has projected cotton consumption for 2022-23 season at 300 lakh bales in this season against previous year’s consumption of 318 lakh bales. Cotton arrival is estimated at 18.35 lakh bales during October, the first month of the new season.
Fibre2Fashion News Desk (KUL)