The Cotton Association of India (CAI) maintains its urgency for the 2023-24 season production** at 29.41 million bales at 170kg per bale.
Based on information provided by 11 state cotton plantation association members and others***, Cai retains the urgent figure for the 2023-24 season, which is 29.41 million bales – the same level as previously estimated.
In a statement, Cai President Atul S Ganatra said the total volume as of the end of November was estimated at 92050,000 packs, including 601 that the market reached50,000 bales, imported bales of 300,000 bales and 2.89 million bales of opening stock.
Consumption as of the end of November was 5.3 million bales, while exports were estimated at 300,000 bales. Inventory at the end of November was 36050,000 packs. This includes 2.7 million bales from textile mills, and the remaining 9050,000 packs. This includes cotton that has been sold but not delivered.
The total amount of cotton for the current cotton season ending in September 2024 is estimated at 34.5 million bales of 170 kg each. This includes 28.9 million bales in stock at the start of the season on October 1, 2023, with an estimated import volume of 2.2 million bales and an urgent figure of 294.1 million bales. CAI estimates that imports this season have increased by 9.5 million bales at 170kg per pack compared to last year.
CAI estimates domestic consumption at 31.1 million packs, unchanged from last year. CAI estimates exports at 1.4 million bales at 170kg each, down from 15.5 million bales in the previous season. CAI said ending stocks for the 2023-24 season through September are expected to be 2 million bales, down from 28.9 million bales the year before.