Cotton exports set to surge 27% to 2.8 million bales: CAI

During the crop season of 2022-23 (October-September), cotton exports amounted to 2.2 million bales.

The Cotton Association of India (CAI) anticipate cotton exports to increase by approximately 27 per cent, reaching 2.8 million bales during the 2023-24 crop year concluding in September.

According to CAI, during the crop season of 2022-23 (October-September), cotton exports amounted to 2.2 million bales. It was mentioned that one bale equals 170 kilograms.

CAI President Atul Ganatra informed PTI that the demand for Indian cotton had risen because the prices were 8-10 percent lower than international prices from December 2023 to March 2024. He mentioned that Indian cotton is primarily exported to nations such as Bangladesh, China, and Vietnam.

In the meantime, CAI maintained the cotton production estimate for 2023-24 at 30.97 million bales, the same as the previous month’s estimate. However, the production is anticipated to be lower than the previous season’s 31.89 million bales.

The total cotton supply until the end of April 2024 is estimated at 31.58 million bales, comprising 28.19 million bales from pressing, 5 lakh bales from imports, and the opening stock of 2.8 million bales.

The estimated cotton consumption until April 2024 is 1.92 million bales, while exports are estimated at 2.1 million bales.

The stock at the end of April is estimated at 10.18 million bales, including 4.05 million bales with textile mills, which is over 45 days’ consumption, and the remaining 6.13 million bales with Cotton Corporation of India, Maharashtra Federation, and others (MNCs, MCX, traders, ginners, among others), including cotton sold but not delivered.

CAI also affirmed its total cotton supply estimate at 35.9 million bales for the 2023-24 season. This includes the opening stock of 2.8 million bales, the estimated cotton pressing number at 30.9 million bales, and imports at 2 million bales.

CAI added that cotton imports estimated for the season are higher by 07.90 million bales compared to last year.