CAI maintains cotton crop estimate at 311.18 lakh bales for 2022-23 season

The Cotton Association of India (CAI) on Tuesday maintained the cotton crop production forecast for the 2022-23 season at 311.18 lakh bales. In the last cotton season, the total cotton production was at 307.05 lakh bales, CAI said in a statement.

The cotton season runs from October to September.

The total cotton supply for October 2022 to July 2023 is estimated at 332.30 lakh bales, which consists of arrivals of 296.80 lakh bales, imports of 11.50 lakh bales and the opening stock estimated by the CAI at 24 lakh bales at the beginning of the season.

Further, the CAI has estimated cotton consumption for the months of October 2022 to July 2023 at 265 lakh bales, while the export shipments up to July 31, are estimated at 14 lakh bales.

Stocks at the end of July is estimated at 53.30 lakh bales including 28 lakh bales with textile mills and the remaining 25.30 lakh bales with the Cotton Corporation of India (CCI), Maharashtra Federation and others (MNCs, traders, ginners among others) including cotton sold but not delivered.

The CAI has retained its total cotton supply estimate till end of the cotton season 2022-23, that is up to September 30, 2023, at the same level as estimated in the previous month at 350.18 lakh bales.

The total cotton supply consists of the opening stock of 24 lakh bales at the beginning of the cotton season on October 1, 2022, crop for the season estimated at 311.18 lakh bales and the imports for the season estimated at 15 lakh bales.

The domestic consumption for the season is also estimated at the same level as estimated previously that is at 311 lakh bales.

Exports for the season have also been retained at 16 lakh bales, same as the previous forecast by CAI, and the carry-over stock for the current season is estimated at 23.18 lakh bales.

Source: The Economic Times