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MUMBAI, April 19 (Commoditiescontrol):The Cotton Association of India (CAI) has recently revealed its latest estimate for the cotton crop during the 2022-23 season commencing on October 1, 2022. As per the latest report, the CAI has revised its estimate for the cotton crop to 303 lakh bales, each weighing 170 kg. This is equivalent to 321.94 lakh running bales, with each weighing 160 kg.
According to the Cotton Association of India (CAI), the cotton supply from October 2022 to March 2023 is projected to be 229.02 lakh bales, each weighing 170 kg. This includes 190.63 lakh bales of domestic arrivals, 6.50 lakh bales of imports, and an estimated opening stock of 31.89 lakh bales. The CAI estimates cotton consumption for the same period at 149 lakh bales and export shipments up to March 31, 2023, at 10.50 lakh bales. Stock at the end of March 2023 is estimated at 69.52 lakh bales, including 50.52 lakh bales with textile mills and the remaining 19 lakh bales with other organizations.
The total cotton supply estimated by the CAI until the end of the cotton season on September 30, 2023, is 349.89 lakh bales, which includes the opening stock of 31.89 lakh bales, crop for the season estimated at 303 lakh bales, and imports for the season estimated by the CAI at 15 lakh bales. Therefore, the domestic consumption for the season is estimated at 311 lakh bales, while exports for the season have been estimated at 25.00 lakh bales, which is lower than previously estimated.
The exports estimate for the previous cotton season 2021-22 was 43 lakh bales, while the carry-over stock was estimated at 13.89 lakh bales.
The Crop Committee of the Cotton Association of India (CAI) met on April 18, 2023, to discuss the March estimate and to draw up the estimated cotton balance sheet. Based on the data provided, the committee arrived at its estimate for the cotton crop in the 2022-23 season.
(By Commoditiescontrol Bureau; +91-9820130172)
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