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The Cotton Association of India (CAI) on Tuesday reduced the cotton crop estimate by 4.25 lakh bales to 339.75 lakh bales for the 2022-23 season, beginning from October 2022, as the production in Haryana, Andhra Pradesh and Karnataka is expected to decline.
The total cotton production in the last season is estimated at 307.05 lakh bales, which is 32.7 lakh bales less than the current season estimates, the CAI said in a statement.
The production of cotton crop for 2022-23 season for Haryana is estimated at 13.02 lakh bales, Andhra Pradesh at 15 lakh bales and Karnataka at 24 lakh bales, according to CAI data.
The total cotton supply for October and November 2022 is estimated at 84.68 lakh bales, which consists of arrivals of 50.29 lakh bales, imports of 2.50 lakh bales and the opening stock estimated by the CAI at 31.89 lakh bales at the beginning of the season.
Further, the CAI has estimated cotton consumption for October and November 2022 at 40 lakh bales while the export shipments up to November 30 are estimated at 1 lakh bales.
The cotton supply estimated till the end of the cotton season 2022-23 is 383.64 lakh bales. It consists of the opening stock of 31.89 lakh bales at the beginning of the cotton season on October 1, 2022, crop for the season estimated at 339.75 lakh bales and imports for the season at 12 lakh bales.
The domestic consumption for the season is estimated at 300 lakh bales against 318 lakh bales in the previous season.
The exports for the season have been estimated at 30 lakh bales, compared to 43 lakh bales earlier.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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