Cotton Association of India (CAI), the apex trade body for the sector, estimates the domestic consumption of the fibre crop for the 2023-24 season (October 2023-September 2024) flat at 311 lakh bales (of 170 kg each).
In a press release on Thursday, CAI said the pressing estimates for the 2023-24 season starting October has been maintained at 294.10 lakh bales of 170 kg each. CAI’s latest observations on the cotton scenario is based on the inputs received from members in the 11 cotton-growing state associations and other trade sources.
Balance sheet
Total supply till end of December 2023 is estimated at 148.90 lakh bales. This consists of the arrivals of 116 lakh bales , imports of 4 lakh bales and the opening stock estimated by the CAI at 28.90 lakh bales at the beginning of the season.
Further, the CAI has estimated cotton consumption upto December end at 81 lakh bales and exports at 5 lakh bales. Stock at the end of December 2023 is estimated at 62.90 lakh bales. This includes 36 lakh bales with textile mills, which is about 42 days of consumption. The remaining 26.9 lakh bales are with the Cotton Corporation of India, Maharashtra Federation and others including the multinational companies, traders and ginners.
The CAI has retained its total cotton supply till end of the cotton season 2023-24 (upto September 30, 2024) at the same level as estimated earlier at 345 lakh bales. The total cotton supply consists of the opening stock of 28.90 lakh bales as on October 1, cotton pressing numbers estimated for the season at 294.10 lakh bales and estimated imports of 22 lakh bales. The cotton imports estimated by the CAI for the season are higher by 9.50 lakh bales compared to last year.
The exports for the season 2023-24 are also seen lower at 14 lakh bales, a against 15.50 lakh bales in the 2022-23 season.