CAI Reduces India’s Cotton Output Forecast By 8% For 2023-24
Cotton production in India may drop by around 8 percent over the previous season to 294.10 lakh bales of 170 kg each in the 2023-24 season, due to lower yields in most cotton growing regions.
This was informed by the Cotton Association of India (CAI) in its December cotton estimates report released this week.
The decline in cotton output is mainly due to the infestation of pink ball worms in northern India, while yield in south and central India will be impacted as there was no rainfall for 45 days in August and September.
The total supply till end of November 2023 is forecast at 92.05 lakh bales, which consists of arrivals of 60.15 lakh bales, imports of 3 lakh bales and opening stock of 28.90 lakh bales at beginning of the season.
CAI has projected cotton consumption up to the end of November 2023 at 53 lakh bales and exports up to November 30 are forecast at 3 lakh bales.
Stocks at end of November is forecast at 36.05 lakh bales, including 27 lakh bales with textile mills and remaining 9.05 lakh bales with various state cotton agencies and also traders and ginners and includes cotton sold but not delivered.
The CAI has retained its total cotton supply till the end of the cotton season 2023-24 ending September 30, 2024 at 345 lakh bales.
The total cotton supply consists of opening stock of 28.90 lakh bales at beginning of 2023-24 season, cotton pressing numbers forecast for the season at 294.10 lakh bales and imports estimated at 22 lakh bales.
Cotton imports projected by CAI for the ongoing season are higher by 9.50 lakh bales as against the previous season.
As per CAI data, cotton production in the previous 2022-23 season amounted to 318.90 lakh bales.
