CAI retains November pressing estimate for 2023-24
The CAI has retained its total cotton supply till end of the cotton season 2023-24 (i.e. upto September 30, 2024) at the same level as estimated earlier i.e. 345 lakh bales of 170 kgs each (equivalent to 362.04 lakh running bales of 162 kgs each).
Cotton Association of India (CAI) has released its November estimate of the cotton pressing numbers for 2023-24 season, which began on October 1, 2023. CAI has maintained its cotton pressing estimate for 2023-24 season at 294.10 lakh bales of 170 kgs each (equivalent to 308.62 lakh running bales of 162 kgs each). Based on input received from the members of 11 cotton growing state associations and other trade sources, the Committee retained pressing figures for 2023-24 season at the same level as estimated by it previously. The State-wise break-up of the Cotton pressing numbers as well as balance sheet for the season with the corresponding data for the previous crop year are enclosed.
The total supply till end of November 2023 is estimated at 92.05 lakh bales of 170 kgs each (equivalent to 96.60 lakh running bales of 162 kgs each) which consists of the arrivals of 60.15 lakh bales of 170 kgs each (equivalent to 63.12 lakh running bales of 162 kgs each), imports of 3.00 lakh bales of 170 kgs each (equivalent to 3.15 lakh running bales of 162 kgs each) and the opening stock estimated by the CAI at 28.90 lakh bales of 170 kgs each (equivalent to 30.33 lakh running bales of 162 kgs each) at the beginning of the season.
Further, the CAI has estimated cotton consumption upto the end of November 2023 at 53 lakh bales of 170 kgs each (equivalent to 55.62 lakh running bales of 162 kgs each) while the export shipments upto November 30, 2023 are estimated by the CAI at 3.00 lakh ales of 170 kgs each (equivalent to 3.15 lakh running bales of 162 kgs each). Stock at the end of November 2023 is estimated at 36.05 lakh bales of 170 kgs each (equivalent to 37.83 lakh running bales of 162 kgs each) including 27 lakh bales of 170 kgs each (equivalent to 28.33 lakh running bales of 162 kgs each) with textile mills and the remaining 9.05 lakh bales of 170 kgs each (equivalent to 9.50 lakh running bales of 162 kgs each) with CCI, Maharashtra Federation and others (MNCs, traders, ginners, etc.) including cotton sold but not delivered.
The CAI has retained its total cotton supply till end of the cotton season 2023-24 (i.e. upto September 30, 2024) at the same level as estimated earlier i.e. 345 lakh bales of 170 kgs each (equivalent to 362.04 lakh running bales of 162 kgs each). The total cotton supply consists of the opening stock of 28.90 lakh bales (equivalent to 30.33 lakh running bales of 162 kgs each) at the beginning of 2023-24 season on October 1, 2023, cotton pressing numbers estimated for the season at 294.10 lakh bales of 170 kgs each (equivalent to 308.62 lakh running bales of 162 kgs each) and imports for the season estimated at 22 lakh bales of 170 kgs each (equivalent to 23.09 lakh running bales of 162 kgs each). The cotton imports estimated by the CAI for the season are higher by 9.50 lakh bales of 170 kgs each compared to last year.
The domestic consumption estimated by the CAI is the same as last year i.e. 311 lakh bales of 170 kgs each (equivalent to 326.36 lakh running bales of 162 kgs each). The exports for the season 2023-24 estimated by the CAI are the same as estimated previously i.e. 14 lakh bales of 170 kgs each (equivalent to 14.69 lakh running bales of 162 kgs each) as against 15.50 lakh bales of 170 kgs each (equivalent to 16.27 lakh running bales of 162 kgs each) estimated for 2022-23 season.
Salient features of the CAI Crop Committee meeting held on December 20, 2023
The Crop Committee of the Cotton Association of India (CAI) held its meeting on December 20, 2023 virtually, which was attended by 16 members representing various cotton growing regions of the country. Based on the input given by the representatives of each state association, the CAI Crop Committee has estimated total cotton pressing numbers for 2023-24 season and has also drawn cotton balance sheet for 2023-24 season.
The following are the salient features of the CAI crop report: –
- Consumption
The CAI has maintained cotton consumption for 2023-24 season at 311 lakh bales of 170 kgs each (equivalent to 326.36 lakh running bales of 162 kgs each) i.e. same as estimated previously.
Upto November 30, 2023, the consumption is estimated at 53 lakh bales of 170 kgs each (equivalent to 55.62 lakh running bales of 162 kgs each).
2. Cotton pressing
As per the crop report submitted by upcountry associations and trade sources at the meeting of the CAI Crop Committee, the Committee has retained its cotton pressing at 294.10 lakh bales of 170 kgs each (equivalent to 308.62 lakh running bales of 162 kgs each).
The Committee members will have a close watch on the pressing numbers of cotton in the subsequent months and if any addition or reduction is required to be made in the pressing numbers, the same will be made in the CAI report.
- Imports
The cotton imports into India during 2023-24 season are also maintained at 22 lakh bales of 170 kgs each (equivalent to 23.09 lakh running bales of 162 kgs each) as against 12.50 lakh bales of 170 kgs each (equivalent to 13.12 lakh running bales of 162 kgs each) estimated for last season. The cotton imports estimated for the ongoing crop year 2023-24 are higher by 9.5 lakh bales of 170 kgs each compared to last year.
Upto November 30, 2023, about 3.00 lakh bales of 170 kgs each (equivalent to 3.15 lakh running bales of 162 kgs each) are estimated to have arrived the Indian Ports.
- Exports
The Committee has retained its cotton exports estimate at 14 lakh bales of 170 kgs each (equivalent to 14.69 lakh running bales of 162 kgs each). The cotton exports for 2023-24 crop year are estimated to be lower at 1.50 lakh bales of 170 kgs each as against 15.50 lakh bales of 170 kgs each (equivalent to 16.27 lakh running bales of 162 kgs each) estimated for the last season.
- C losing stock as at September 30, 2024
The closing stock as on September 30, 2024 is estimated at 20 lakh bales of 170 kgs each (equivalent to 20.99 lakh running bales of 162 kgs each) as against 28.90 lakh bales of 170 kgs each (equivalent to 30.33 lakh running bales of 162 kgs each) in last year.
