CAI Maintains Its FY23 Cotton Crop Estimate At 311.18 Lakh Bales

Mumbai, Aug 14 (KNN) Cotton Association of India (CAI) on Monday announced that it has retained its cotton crop estimate for the 2022-23 season at 311.18 lakh bales of 170 kgs

The Association under the leadership of President Atul S. Ganatra released its July estimate of the cotton crop for the season 2022-23 on Monday beginning from 1st October 2022

This estimate has been arrived at by the Crop Committee of the Association at its meeting held on Saturday, as per the press release.

Based on pressing numbers and input received from the members of all the 11 cotton growing state associations and other trade sources, the Committee estimated the cotton crop for the 2022-23 season and drew cotton balance sheet. 

The total cotton supply for the months of October 2022 to July 2023 is estimated at 332.30 lakh bales of 170 kgs. Each (equivalent to 348.71 lakh running bales of 162 kgs. Each), which consists of the arrivals of 296.80 lakh bales of 170 kgs. Each (equivalent to 311.46 lakh running bales of 162 kgs. Each), imports of 11.50 lakh bales of 170 kgs.

Further, the CAI has estimated cotton consumption for the months of October 2022 to July 2023 at 265 lakh bales of 170 kgs. Each (equivalent to 278.09 lakh running bales of 162 kgs. Each) while the export shipments upto 31 July 2023 are estimated by the CAI at 14.00 lakh bales of 170 kgs. Each (equivalent to 14.69 lakh running bales of 162 kgs. Each). 

It has retained its total cotton supply estimate till end of the cotton season 2022-23 i.e. upto 30th  September 2023 at the same level as estimated earlier i.e. at 350.18 lakh bales of 170 kgs. Each (equivalent to 367.47 lakh running bales of 162 kgs. Each). 

The CAI has estimated cotton consumption for the current crop year 2022-23 at 311.00 lakh bales of 170 kgs. Each (equivalent to 326.36 lakh running bales of 162 kgs. Each). The previous year’s consumption estimate was 318 lakh bales of 170 kgs. Each (equivalent to 333.70 lakh running bales of 162 kgs. Each).

Upto 31 July 2023, the consumption is estimated at 265 lakh bales of 170 kgs.

The CAI has also retained its production estimate for 2022-23 season at the same level as estimated previously i.e. at 311.18 lakh bales of 170 kgs.

The Committee members will have a close watch on the cotton pressing numbers and arrivals in the subsequent months and if any addition or reduction is required to be made in the production estimate, the same will be made in the CAI report.

The estimate of cotton imports into India is estimated at 15 lakh bales of 170 kgs and the cotton exports estimate is retained at 16 lakh bales of 170 kgs.  (KNN Bureau)