Cotton Association Reduces Crop Estimate to 330.50 lakh Bales for 2022-23 Season

According to the CAI, total cotton production in the previous season was estimated at 307.05 lakh bales. Cotton production in Maharashtra, Andhra Pradesh, and Karnataka is expected to fall by 2 lakh bales each in the current season, which began on October 1, 2022, to 82.50 lakh bales, 13 lakh bales, and 22 lakh bales, respectively.

Except for Gujarat, where output is expected to remain flat, cotton-growing states are expected to see a decrease in output, according to the CAI.

The total cotton supply in October-December 2022 is estimated to be 116.27 lakh bales, comprised of 80.13 lakh bales of arrivals, 4.25 lakh bales of imports, and an estimated opening stock of 31.89 lakh bales.

Cotton consumption is estimated by the CAI to be 65 lakh bales from October to December 2022, with export shipments up to December 31, 2022, at 2 lakh bales.

The CAI statement added that stock at the end of December 2022 is estimated to be 49.27 lakh bales, including 35 lakh bales with textile mills and the remaining 14.27 lakh bales with the Cotton Corporation of India (CCI), Maharashtra Federation, and others (MNCs, traders, ginners, MCX, among others, including cotton sold but not delivered).

Cotton supply is estimated to be 374.39 lakh bales until the end of the cotton season 2022-23, or September 30, 2023. The total cotton supply consists of the opening stock of 31.89 lakh bales on October 1, 2022, the crop for the season estimated at 330.50 lakh bales, and the season imports estimated at 12 lakh bales.

The CAI estimated 14 lakh bales of import for the corresponding year 2021-22. Domestic consumption is expected to be 300 lakh bales this season, with exports expected to be 30 lakh bales. CAI added that the carry-over stock, which was previously estimated at 53.64 lakh bales, is now estimated at 44.39 lakh bales.