The production for the October-September cotton year 2022–23 is anticipated to increase by about 15%, provided the weather remains favourable until October, providing relief to the entire cotton value chain, at a time when the central government is concerned about the closure of 50% of the country’s spinning mills due to cotton shortages.
India’s cotton production for 2022–2023 has been projected to increase by 15% to 360 lakh bales weighing 170 kilogrammes apiece by the Cotton Corporation of India (CCI), which conducts cotton buying operations when prices fall below the minimum support price (MSP). In January, Indian cotton cost Rs 60,000 each sweet (of 356 kg), but by May, it cost Rs 1,10,000 per candy. Due to such high prices, cotton planting space has expanded by 7% to 8%.
“The amount of land planted with cotton has increased from 120.55 to 128 lakh hectares. The favourable weather is projected to improve yields, resulting in an increase in cotton production to 360 lakh bales “the CCI deputy general manager, Arjun Dave, stated.
The 350 lakh bale production estimate comes from the traders-dominated Cotton Association of India (CAI). “Production could rise to 370–375 lakh bales in the following months if the weather is favourable. If not, production could decrease to 325–330 lakh bales” said CAI President Atul Ganatra. The government is under a lot of pressure, according to Ganatra, to improve the situation with cotton as the textile industry is experiencing a downturn. “Exports of yarn, textile, clothes, and other items have decreased by almost 70%,” said Ganatra.