Estimates for cotton exports in 2023–2024 indicates a 27% surge at 2.8 mn bales, reports CAI

The Cotton Association of India (CAI) predicted on Saturday that during the 2023–24 crop year, which ends in September, cotton exports would increase by almost 27% to 28 lakh bales. According to CAI, cotton exports for the 2022–2023 crop season (October–September) totaled 22 lakh bales. 170 kg is equal to one bale.

“The demand for Indian cotton went up as the prices ruled 8-10 per cent lower than the international prices during December 2023 till March 2024. Our cotton is mainly exported to countries like Bangladesh, China and Vietnam,” CAI President Atul Ganatra told PTI.

 

On hindsight, the CAI predicted that 309.70 lakh bales of cotton will be produced in 2023–2024—the same amount as predicted the month before. But, compared to the 318.90 lakh bales produced in the previous season, the production is anticipated to be lower.

This comprises 61.36 lakh bales with Cotton Corporation of India, Maharashtra Federation, and other parties (MNCs, MCX, dealers, ginners, among others), including cotton sold but not delivered. The remaining 40.50 lakh bales are with textile mills, which is more than 45 days’ consumption.

 

An anticipated 315.86 lakh bales of cotton will be produced by the end of April 2024; this amount includes 5 lakh bales of imports, 281.96 lakh bales from pressing, and 28.90 lakh bales from opening stock.

 

For the 2023–2024 season, the CAI has maintained its estimate of the total cotton supply at 359 lakh bales. This includes the 28.90 lakh bales of opening stock, the projected 309.70 lakh bales of cotton pressings, and the 20.40 lakh bales of imports.