The Cotton Association of India (CAI) has upheld its cotton crop production projection for the 2022-23 season at 311.18 lakh bales.
In the preceding cotton season, the total cotton output reached 307.05 lakh bales, as indicated by CAI's statement. This cotton season spans from October to September.
The cumulative cotton supply for the period from October 2022 to July 2023 is approximated at 332.30 lakh bales. This figure comprises 296.80 lakh bales from arrivals, 11.50 lakh bales from imports, and an initial stock of 24 lakh bales at the season's commencement as estimated by CAI.
Furthermore, CAI has gauged cotton consumption from October 2022 to July 2023 at 265 lakh bales. Meanwhile, exports recorded until July 31 stand at 14 lakh bales.
The closing stocks by the end of July are approximated at 53.30 lakh bales, encompassing 28 lakh bales held by textile mills and the remaining 25.30 lakh bales under the ownership of entities like the Cotton Corporation of India (CCI), Maharashtra Federation, and others, including cotton that has been sold but not yet delivered.
For the entire cotton season of 2022-23, extending until September 30, 2023, CAI has kept its total cotton supply estimate unaltered at 350.18 lakh bales.
This overall supply encompasses the initial stock of 24 lakh bales at the season's outset on October 1, 2022, an anticipated crop of 311.18 lakh bales, and projected imports of 15 lakh bales. The domestic consumption estimate for the season also remains constant at 311 lakh bales.
Likewise, export predictions for the season stand at 16 lakh bales, mirroring CAI's prior forecast, with a carry-over stock of 23.18 lakh bales for the ongoing season.
