CAI releases October pressing estimate for 2023-24 cotton season at 294.10 lakh bales
The total cotton supply till end of the cotton season 2023-24 (i.e. upto September 30, 2024) is estimated at 345 lakh bales of 170 kgs each (equivalent to 362.04 lakh running bales of 162 kgs each) as against the last year’s total cotton supply of 355.40 lakh bales of 170 kgs each (equivalent to 372.95 lakh running bales of 162 kgs each).
Cotton Association of India (CAI) has released its October estimate of the cotton pressing numbers for 2023-24 season, which began on October 1, 2023. CAI has reduced its cotton pressing estimate for 2023-24 crop year by 1 lakh bales to 294.10 lakh bales of 170 kgs each (equivalent to 308.62 lakh running bales of 162 kgs each) from its previous estimate of 295.10 lakh bales of 170 kgs each. 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 for the month of October 2023 is estimated at 54.74 lakh bales of 170 kgs each (equivalent to 57.44 lakh running bales of 162 kgs each) which consists of the arrivals of 24.34 lakh bales of 170 kgs each (equivalent to 25.54 lakh running bales of 162 kgs each), imports of 1.50 lakh bales of 170 kgs each (equivalent to 1.57 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 30.34 lakh running bales of 162 kgs each) at the beginning of the season.
Further, the CAI has estimated cotton consumption for the month of October 2023 at 26 lakh bales of 170 kgs each (equivalent to 27.28 lakh running bales of 162 kgs each) while the export shipments upto October 31, 2023 are estimated by the CAI at 1.00 lakh ales of 170 kgs each. Stock at the end of October 2023 is estimated at 27.74 lakh bales of 170 kgs each (equivalent to 29.11 lakh running bales of 162 kgs each) including 25 lakh bales of 170 kgs each (equivalent to 26.23 lakh running bales of 162 kgs each) with textile mills and the remaining 2.74 lakh bales of 170 kgs each (equivalent to 2.88 lakh running bales of 162 kgs each) with CCI, Maharashtra Federation and others (MNCs, traders, ginners, etc.) including cotton sold but not delivered.
The total cotton supply till end of the cotton season 2023-24 (i.e. upto September 30, 2024) is estimated at 345 lakh bales of 170 kgs each (equivalent to 362.04 lakh running bales of 162 kgs each) as against the last year’s total cotton supply of 355.40 lakh bales of 170 kgs each (equivalent to 372.95 lakh running bales of 162 kgs each). The estimated 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 1st October 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 326.35 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. The CAI estimates exports to be lower by 1.50 lakh bales of 170 kgs each in the ongoing 2023-24 season compared to last year.
Salient features of the CAI Crop Committee meeting held on 17th November 2023
The Crop Committee of the Cotton Association of India (CAI) held its meeting on Friday, the 17th November 2023 virtually, which was attended by 18 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 October 31, 2023, the consumption is estimated at 26 lakh bales of 170 kgs each (equivalent to 27.28 lakh running bales of 162 kgs each).
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 estimated cotton pressing at 294.10 lakh bales of 170 kgs each (equivalent to 308.62 lakh running bales of 162 kgs each) which is less by 1 lakh bales in the state of Haryana in view of the reports of damage to the crop on account of pink bollworm infestation and uprooting of cotton plants by farmers.
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 estimated 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 October 31, 2023, about 1.50 lakh bales of 170 kgs each (equivalent to 1.57 lakh running bales of 162 kgs each) are estimated to have arrived the Indian Ports.
