The Cotton Association of India (CAI), a trade organization, has reduced its projections for cotton crop production even further, from 330.50 lakh bales forecast last month to 321.50 lakh bales (170 kg) for the current season (October 2022–September 2023). The revised estimate coincides with the Ministry of Agriculture’s Tuesday reduction of its cotton crop forecast to 337.23 lakh bales.
According to Darshana Jardosh, the Union Minister for Textiles, cotton production is expected to be 341.91 lakh bales (170 kg each) this season as opposed to 312.03 lakh bales the previous season, she informed the Rajya Sabha on Friday. Atul S. Ganatra, president of CAI, stated in a statement that the estimations will be higher than the 307.05 bales of loose cotton produced during the previous season.
According to CAI, cotton arrivals for the current season through January 31 are estimated at 115.70 lakh bales, which is a decrease of 76.5 lakh bales from the same time last year. The expected amount of cotton imported up through January 31 is 5.8 lakh bales, and the CAI anticipates total imports of 12 lakh bales (12 lakh bales last season).
The association forecasts that textile mill consumption will be lower at 280 lakh bales (293 lakh bales) and exports will be lower at 30 lakh bales (43 lakh bales). Small-scale industries’ cotton consumption has been reduced to 15 lakh bales (19 lakh bales). A 35.39 lakh bale (31.89 lakh bale) estimate of closing stocks has been made. Production will be less in Punjab, Haryana, Madhya Pradesh, Andhra Pradesh, and Tamil Nadu, according to CAI’s projections.
