MUMBAI, Aug 14 (Commoditiescontrol): The Cotton Association of India (CAI) announced its July estimate for the 2022-23 cotton crop season, which begins on 1st October 2022. The estimation stands at 311.18 lakh bales, each weighing 170 kgs. This is equivalent to 326.55 lakh running bales, each of 162 kgs. The figures come after a meeting of the Association's Crop Committee on 12th August 2023.
Informed by data from the 11 state cotton-growing associations and other trade sources, the Committee also presented a comprehensive cotton balance sheet for the season. Accompanying the main data is a state-wise breakdown of cotton production and a balance sheet comparing the current season to the previous year.
From October 2022 to July 2023, the total cotton supply is calculated to be 332.30 lakh bales (170 kgs each), or 348.71 lakh running bales (162 kgs each). The arrivals are projected at 296.80 lakh bales, supplemented by imports of 11.50 lakh bales and an opening stock of 24 lakh bales, as estimated by the CAI.
Regarding consumption, the CAI estimates a figure of 265 lakh bales between October 2022 and July 2023. The export shipments up to the end of July 2023 are projected to be 14.00 lakh bales.
By the end of July 2023, the stock is expected to be 53.30 lakh bales, including 28 lakh bales with textile mills. The remainder will be held by various stakeholders including the CCI, Maharashtra Federation, MNCs, traders, ginners, and others.
For the entire 2022-23 cotton season ending on 30th September 2023, the total cotton supply estimate remains unchanged at 350.18 lakh bales. The imports for the season are estimated by CAI to be 15 lakh bales, slightly more than the 14 lakh bales from the 2021-22 season.
Domestic consumption remains constant at 311 lakh bales for the season. The export forecast also remains at 16 lakh bales, in contrast to the 43 lakh bales exported the previous season. The concluding stock for this season is projected at 23.18 lakh bales.
HIGHLIGHTS OF DELIBERATIONS HELD BY THE CAI CROP COMMITTEE ON 12TH AUGUST 2023
The Crop Committee, represented by members from different cotton-growing regions, convened on 12th August 2023. The committee's estimates for the 2022-23 season are based on a diverse range of sources, including upcountry associations and stakeholders.
Key takeaways from the meeting include:
CONSUMPTION: The CAI's estimated consumption for 2022-23 stands at 311.00 lakh bales, a slight decrease from the previous year's 318 lakh bales.
PRODUCTION: The production estimate remains constant at 311.18 lakh bales for the 2022-23 season.
(By Commoditiescontrol Bureau; +91-9820130172)
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