Mumbai: The Cotton Association of India (CAI) Saturday lowered the cotton crop output estimate by 9.25 lakh bales for the 2022-23 season to 330.50 lakh bales as production is expected to decline in Maharashtra, Andhra Pradesh and Karnataka.
The total cotton production in the last season is estimated at 307.05 lakh bales, the CAI said in a statement.
The cotton production in the current season that started October 1, 2022, is expected to decline by 2 lakh bales each in Maharashtra, Andhra Pradesh and Karnataka to 82.50 lakh bales, 13 lakh bales and 22 lakh bales, respectively.
Except for Gujarat, where the output is likely to remain flat, the cotton-growing states are expected to witness a decline in production, the CAI added.
The total cotton supply in October-December 2022 is estimated at 116.27 lakh bales, which consists of the arrivals of 80.13 lakh bales, imports of 4.25 lakh bales and the estimated opening stock of 31.89 lakh bales.
The CAI has estimated cotton consumption for October-December 2022 at 65 lakh bales while the export shipments up to December 31, 2022, are estimated at 2 lakh bales.
Stock at the end of December 2022 is estimated at 49.27 lakh bales including 35 lakh bales with textile mills and the remaining 14.27 lakh bales with the Cotton Corporation of India (CCI), Maharashtra Federation and others (MNCs, traders, ginners, MCX among others, including cotton sold but not delivered), the CAI statement added.
The cotton supply till the end of the cotton season 2022-23, up to September 30, 2023, is estimated at 374.39 lakh bales.
The total cotton 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 was estimated at 330.50 lakh bales and the imports for the season were estimated at 12 lakh bales.
The import estimated by the CAI for the corresponding year 2021-22 was 14 lakh bales.
The domestic consumption for the season is estimated at 300 lakh bales, while the exports are at 30 lakh bales.
The carry-over stock which was earlier estimated at 53.64 lakh bales is now estimated at 44.39 lakh bales, CAI added.
PTI
