Cotton exports for the 2023-24 crop year or season ending September are estimated at about 80 per cent at 28 lakh bales (170 kg each) on higher demand from consuming countries such as Bangladesh and Vietnam. In the previous crop year, cotton exports were 15.50 lakh bales.
As per the Cotton Association of India (CAI)‘s latest estimates, exports till August end were 27 lakh bales. Imports of the fibre into the country were 16.40 lakh bales, up from 12.50 lakh bales in the previous year.
CAI president, Atul Ganatra, in a statement, said closing stocks as of September 30, 2024, are estimated at 23.32 lakh bales, down from 28.90 lakh bales a year ago.
The consumption of cotton during the crop year is estimated at 317 lakh bales. Till August end, the consumption was estimated at 291 lakh bales.
Higher pressing
Ganatra said the estimated pressing figures for 2023-24 season is 323.03 lakh bales, up from the earlier estimate of 317.70 lakh bales on higher than projected supplies from Maharasthra and Gujarat among others. Supplies till August-end were estimated at 362.18 lakh bales.
As per the Agriculture Ministry data, cotton has been planted on about 112.13 lakh hectares (lh) till September 6 against 123.39 lh a year ago. The decline is mainly in Gujarat, Maharashtra, Telangana, Rajasthan, Punjab and Haryana. However, Karnataka and Odisha have witnessed a marginal increase in acreage.
In Maharashtra the area has reduced to 40.75 lh from 42.22 lh a year ago. Similarly in Gujarat, the area has declined to 23.62 lh (26.79 lh in the previous year), while in Telangana, it is down to 17.39 lh (18.01 lh).
In Madhya Pradesh, the cotton area is down to 6.14 lh (6.50 lh), while in Haryana it was down at 4.76 lh (6.65 lh), while Rajasthan it was down at 5.19 lh (7.90 lh). Andhra has seen a marginal dip in area at 3.71 lh (3.80 lh). The area in Karnataka has increased to 6.74 lh (6.60 lh), while in Odisha it was up marginally at 2.36 lh (2.34 lh).