ENA Sectors 2024-01-11 17:35:31 <p><span style="font-size:14px"><strong>Mumbai, Jan 11 (KNN)</strong> The Cotton Association of India (CAI) has released its December estimate for the ongoing 2023-24 cotton pressing season, reaffirming its projection at 294.10 lakh bales of 170 kg.</span></p> <p><span style="font-size:14px">This decision was made after considering input from members of 11 cotton-growing state associations and various trade sources.</span></p> <p><span style="font-size:14px">The stock at the end of December is estimated at 62.90 lakh bales, including 36.00 lakh bales with textile mills and 26.90 lakh bales with CCI, Maharashtra Federation, and others.</span></p> <p><span style="font-size:14px">The total supply until the end of December 2023 is estimated at 148.90 lakh bales of 170 kg.</span></p> <p><span style="font-size:14px">This supply includes arrivals of 116.00 lakh bales, imports of 4.00 lakh bales, and an opening stock estimated at 28.90 lakh bales.</span></p> <p><span style="font-size:14px">CAI has reported cotton consumption up to the end of December 2023 at 81.00 lakh bales and export shipments at 5 lakh bales.</span></p> <p><span style="font-size:14px">The CAI has maintained its total cotton supply estimate for the entire 2023-24 season, ending on September 30, 2024, at 345 lakh bales.</span></p> <p><span style="font-size:14px">The domestic consumption estimate remains the same as the previous year at 311 lakh bales, while exports for the season 2023-24 are projected at 14 lakh bales.</span></p> <p><span style="font-size:14px">These estimates shed light on the dynamics of the cotton market, emphasising factors such as pressing numbers, imports and consumption that contribute to the overall outlook for the ongoing season.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 36248 https://knnindia.co.in/news/newsdetails/sectors/cai-retains-cotton-pressing-estimate-amid-market-dynamics 2024-01-11 17:35:31 knnindia.co.in