The Cotton Association of India (CAI) decreased its cotton crop forecast for the 2022-23 season, which begins in October, by 10 lakh bales to 303 lakh bales on Wednesday, citing production declines in Maharashtra, Telangana, Punjab, and Andhra Pradesh.
According to the CAI, overall cotton production in the previous season was estimated at 307.05 lakh bales. Cotton output in the current season, which began on October 1, 2022, is predicted to fall by 2 lakh bales in Punjab, 3 lakh bales in Maharashtra, 5 lakh bales in Telangana, and 0.5 lakh bales in Andhra Pradesh.
The overall cotton supply is anticipated to be 229.02 lakh bales from October 2022 to March 2023, which includes 190.63 lakh bales of production, 6.5 lakh bales of imports, and an opening stock of 31.89 lakh bales at the start of the season.
Furthermore, the CAI has predicted cotton consumption from October 2022 to March 2023 at 149 lakh bales, with export exports at 10.5 lakh bales through to March 31, 2023.
Stock is anticipated to be 69.52 lakh bales at the end of March 2023, including 50.52 lakh bales with textile mills and the remaining 19 lakh bales with the Cotton Corporation of India (CCI), Maharashtra Federation, and others (MNCs, dealers, ginners, etc.), including cotton sold but not delivered.
Cotton supply is predicted to be 349.89 lakh bales until the end of the current season on September 30, 2023. This includes the season's opening stock of 31.89 lakh bales, the current crop estimated at 303 lakh bales, and imports predicted at 15 lakh bales.
The CAI evaluated imports for the same year 2021-22 at 14 lakh bales, while exports are estimated at 25 lakh bales for this season. CAI estimates domestic consumption for the season at 311 lakh bales.
