CAI reduces cotton crop estimate to 31.3 mn bales for 2022-23 season

CAI reduces cotton crop estimate to 31.3 mn bales for 2022-23 season
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Mumbai: Cotton Association of India (CAI) on Thursday further reduced its cotton crop estimate for the 2022-23 season to 313 lakh bales as production is expected to decline in Maharashtra, Telangana and Haryana.

The total cotton production in the last season is estimated at 307.05 lakh bales, the CAI said in a statement.

The cotton crop season begins in October.

The cotton production in the current season, which began in October 2022, is expected to decline by 2 lakh bales in Maharashtra, by 3 lakh bales in Telangana and by 1 lakh bales in Haryana, CAI added.

The total cotton supply for October 2022-February 2023 is estimated at 192.73 lakh bales, which consists of the arrivals of 154.84 lakh bales, imports of 6 lakh bales and the opening stock estimated by the CAI at 31.89 lakh bales at the beginning of the season.

Further, cotton consumption during October 2022-February 2023 period is estimated at 120 lakh bales, while the export shipments up to February 28, 2023, are estimated at 8 lakh bales.

Stock at the end of February 2023, is estimated at 64.73 lakh bales, including 45 lakh bales with textile mills and the remaining 19.73 lakh bales with the Cotton Corporation of India (CCI), Maharashtra Federation and others (MNCs, traders, ginners among others), including cotton sold but not delivered.

The cotton supply estimated by the CAI till the end of the cotton season 2022-23, that is up to September 30, 2023, is 356.89 lakh bales.

The supply consists of the opening stock of 31.89 lakh bales at the beginning of the cotton season on October 1, 2022, the crop for the season estimated at 313 lakh bales and the imports for the season.

The domestic consumption for the season is estimated at 300 lakh bales, which is at the same level as estimated earlier.

The exports for the season have been estimated at 30 lakh bales, CAI stated.

The carry-over stock, which was earlier estimated at 35.39 lakh bales, is now estimated at 26.89 lakh bales, CAI added.