The CCPC, comprising key stakeholders in cotton production, raised export and consumption projections for the current season, while also increasing crop estimates. In Mumbai, the Cotton Advisory Board, formerly CCPC, decreased last season’s production and upped import estimates during a recent meeting.
The current season’s production is forecasted at 323.11 lakh bales, contrasting with last season’s 336.60 lakh bales. These projections are consistent with the Ministry of Agriculture’s second advance estimate released on February 29. For the current season, imports remain steady at 12 lakh bales, while exports are projected to increase to 27 lakh bales compared to the previous year’s 15.89 lakh bales.
Total supply is anticipated at 396.27 lakh bales, with opening stockpiles estimated at 61.16 lakh bales, down from 64.08 lakh bales previously. Indian cotton demand rises due to higher prices on the Intercontinental Exchange (ICE) and lower domestic rates.
ICE May cotton futures trade at approximately 93.33 US cents per pound, while Shankar-6 type is priced at ₹61,500 per candy in Rajkot. CCPC forecasts consumption at 317 lakh bales, reducing carryover stocks from 57.65 lakh bales to 52.27 lakh bales.
