CAI lowers cotton crop estimate to 303 lakh bales for this season
MUMBAI: Cotton Association of India (CAI) on Wednesday further reduced its cotton crop estimate for the 2022-23 season, beginning October, by 10 lakh bales to 303 lakh bales as production is expected to decline in Maharashtra, Telangana, Punjab and Andhra Pradesh.
The total cotton production in the last season was estimated at 307.05 lakh bales, the CAI said in a statement.
Cotton production in the current season, which began on October 1, 2022, is expected to decline in Punjab by 2 lakh bales, Maharashtra by 3 lakh bales, Telangana by 5 lakh bales, and in Andhra Pradesh by 0.5 lakh bales.
The total cotton supply during October 2022 to March 2023 is estimated at 229.02 lakh bales, which includes 190.63 lakh bales of production, 6.5 lakh bales of imports and the opening stock estimated at 31.89 lakh bales at the beginning of the season.
Further, the CAI has estimated cotton consumption from October 2022 to March 2023 at 149 lakh bales while the export shipments up to March 31, 2023. at 10.5 lakh bales.
Stock at the end of March 2023 is estimated at 69.52 lakh bales, including 50.52 lakh bales with textile mills and the remaining 19 lakh bales with the Cotton Corporation of India (CCI), Maharashtra Federation and others (MNCs, traders, ginners etc.) including cotton sold but not delivered.
The cotton supply estimated till end of the current season up to September 30, 2023, is 349.89 lakh bales. This includes the opening stock of 31.89 lakh bales at the beginning of the season, current crop estimated at 303 lakh bales and the imports estimated at 15 lakh bales.
The import estimated by the CAI for the corresponding year 2021-22 was at 14 lakh bales, while the exports for this season is estimated at 25 lakh bales.
Domestic consumption for the season is estimated at 311 lakh bales, CAI added.