Due to a decrease in yield in most planting areas, cotton production may decrease by approximately 8% to 29.41 million bags in 2023/24.
According to CAI data, the cotton production for the year 2022/23 (October to September of the following year) was 31.89 million bags (170 kilograms per bag).
CAI Chairman Atul Ganatra said, “Due to the invasion of pink worms in the northern region, production is expected to decrease by 2.48 million to 29.41 million packages this year. The yield in the southern and central regions has also been affected, as there was no rainfall for 45 days from August 1 to September 15.”
The total supply as of the end of November 2023 is expected to be 9.25 million packages, including 6.0015 million packages delivered, 300000 packages imported, and 2.89 million packages in initial inventory.
In addition, CAI predicts a cotton consumption of 5.3 million bales as of the end of November 2023, and an export volume of 300000 bales as of November 30.
As of the end of November, the inventory is expected to be 3.605 million packages, including 2.7 million packages from textile mills, and the remaining 905000 packages held by CCI, the Federation of Maharashtra, and others (multinational corporations, traders, cotton gins, etc.), including sold but undelivered cotton.
Until the end of 2023/24 (as of September 30, 2024), the total cotton supply in India will remain at 34.5 million bales.
The total cotton supply includes an initial inventory of 2.89 million bales from the beginning of 2023/24, with a cotton production of 29.41 million bales and an estimated import volume of 2.2 million bales.
According to CAI estimates, the cotton import volume for this year is expected to increase by 950000 bags last year.
Post time: Dec-27-2023