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Cotton Association of India (CAI) on Thursday continued to reduce its cotton crop estimate for the 2022-23 season, beginning from October 1, 2022, to 298.35 lakh bales as production is expected to decline in Maharashtra, Telangana, Tamil Nadu and Odisha.
The cotton crop is expected to reduce in Maharashtra and Telangana by 2 lakh bales each, in Tamil Nadu by 0.50 lakh bales and Odisha by 0.15 lakh bales, CAI said in a statement.
Overall cotton production during the previous season is estimated at 307.05 lakh bales, the statement added.
The total cotton supply for October 2022 to April 2023 is estimated at 263.06 lakh bales, which consists of the arrivals of 224.17 lakh bales, imports of 7 lakh bales and the opening stock at 31.89 lakh bales at the beginning of the season.
Further, the CAI has estimated cotton consumption from October 2022 to April 2023 at 179 lakh bales while the export shipments up to April 30, are estimated at 12 lakh bales.
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Stock at the end of April 2023 is estimated at 72.06 lakh bales including 52.06 lakh bales with textile mills and the remaining 20 lakh bales with the Cotton Corporation of India, Maharashtra Federation and others (MNCs, traders, ginners, among others) including cotton sold but not delivered.
The cotton supply estimated till end of the season 2022-23 is 345.24 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 estimated at 298.35 lakh bales and the imports for the season estimated at 15 lakh bales.
The domestic consumption for the season is estimated at 311 lakh while the exports for the season is forecast at 20 lakh bales.
The carry-over stock is estimated at 14.24 lakh bales from the earlier forecast of 13.89 lakh bales, CAI added.
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