Even as cotton acreage in India has witnessed a decline this kharif season due to erratic monsoon, the country would have a surplus cotton of about 15 million bales (each weighing 170 kg).
According to the latest estimates given by Cotton Association of India (CAI), India's cotton production this year is expected to be nearly 35 million bales, of which consumption is estimated to be around 26.5 million bales, thereby leaving a sizeable surplus of about 15 million bales.
"Although, the acreage under cotton has witnessed a 3% decline as compared to last year, the crop looks promising due to good rains received in Andhra Pradesh and Maharashtra in the later part of the monsoon," Dhiren Sheth, president of CAI noted in his speech at the annual general meet of the association today.
"The cotton production this year is expected to be not less than 35 million bales while the cotton consumption is likely to be around 26.5 million bales, leaving a sizeable surplus of about 15 million bales," he said.
Giving an overall scenario of the cotton sector in India, Sheth mentioned that cotton acreage in India has increased substantially from 8.73 million hectares in 2001-02 to 12.178 million hectares in 2011-12.
"At a time when performance of the agriculture sector as a whole was not so impressive, cotton has been one of the major success stories of the country. Cotton production in the country was 15.8 million bales in 2001-02 but it has increased to more than double in the last 10 years. Productivity level has also seen a marked improvement from 308 kg per hectare in 2001-02 to close to 500 kg per hectare in 2011-12," said Sheth.
At the 90th annual general meeting of the association, Sheth maintained that India's total export earnings from cotton, which was Rs 44 crore in 2001-02 stood at Rs 14,000 crore in the year 2011-12.
"These remarkable achievements have enabled the country to achieve the distinction of having the largest acreage under cotton and becoming the second-largest producer, consumer and exporter of cotton in the whole world," he said.