Cotton Production Forecast 2023-24: CAI Retains 294.10 Lakh Bales

Mumbai, Dec Jan 11 (PTI) The Cotton Association of India (CAI) on Thursday retained the cotton production forecast for the 2023-24 season till December at 294.10 lakh bales, the same as the estimates given in the previous month.

Overall production is expected to be lower than the previous season, which was at 318.90 lakh bales, due to inadequate rainfall affecting the crops and infestation of pink ball worms in the northern region, CAI said in a statement.

The cotton production season is from October-September.

The total supply till the end of December 2023 is estimated at 148.90 lakh bales, consisting of the arrivals of 116 lakh bales, imports of 4 lakh bales and the opening stock estimated by the CAI at 28.90 lakh bales at the beginning of the season.

Further, the CAI has estimated cotton consumption at 81 lakh bales till December-end of 2023, while the export shipments are estimated at 5 lakh bales.

Stock at the end of December is estimated at 62.90 lakh bales, including 36 lakh bales with textile mills, which is about 42 days' consumption and the remaining 26.9 lakh bales with Cotton Corporation of India, Maharashtra Federation and others and cotton sold, but not delivered.

The CAI has retained its total cotton supply till end of the cotton season 2023-24, at the same level as estimated earlier, that is 345 lakh bales.