The Cotton Association of India (CAI), a trade body, has lowered its estimates of cotton crop production further to 321.50 lakh bales (170 kgs) for the current season (October 2022-September 2023) from 330.50 lakh bales projected last month.
The lower estimate comes along with the Ministry of Agriculture lowering its cotton crop estimated to 337.23 lakh bales on Tuesday.
On Friday, Union Minister of State for Textiles Darshana Jardosh told the Rajya Sabha that cotton production this year has been estimated at 341.91 lakh bales (170 kg each) this season against 312.03 lakh bales last season.
Higher than last season
In a statement, CAI president Atul S Ganatra said the estimates include loose cotton to the tune of 7.27 lakh bales and will be higher than 307.05 produced last season.
CAI said until January 31 during the current season, cotton arrivals are pegged at 115.70 lakh bales, down 76.5 lakh bales compared with the year-ago period.
Cotton imports till January 31 are estimated at 5.8 lakh bales and CAI projects total imports this season at 12 lakh bales (14 lakh bales last season).
The association has projected consumption by textile mills lower at 280 lakh bales (293 lakh bales) and exports at 30 lakh bales (43 lakh bales). Cotton offtake by small-scale industries has been cut to 15 lakh bales (19 lakh bales).
Closing stocks are estimated at 35.39 lakh bales (31.89 lakh bales). According to CAI estimates, production will be lower in Punjab, Haryana, Madhya Pradesh, Andhra Pradesh and Tamil Nadu.