The Cotton Association of India (CAI) on Monday announced that it has retained the cotton crop forecast for the 2022-23 season at 311.18 lakh bales of 170 kg.
President Atul S. The association, headed by Ganatra, on Monday released the July estimate of cotton crop for the season 2022-23 beginning October 1, 2022.
According to the press release, the crop committee of the association has estimated this in its meeting held on Saturday.
Based on key numbers and inputs received from members of all the 11 cotton growing state associations and other trade sources, the committee estimated the cotton crop for the 2022-23 season and prepared the cotton balance sheet.
The total cotton supply for the months of October 2022 to July 2023 is estimated at 332.30 lakh bales of 170 kg each. each (equivalent to 348.71 lakh running bales of 162 kg each), including arrivals of 296.80 lakh bales of 170 kg each. Import of 11.50 lakh bales of 170 kg each (equivalent to 311.46 lakh running bales of 162 kg).
Further, CAI has projected cotton consumption of 265 lakh bales of 170 kg each for the months of October 2022 to July 2023. each (equivalent to 278.09 lakh running bales of 162 kg each) while the export shipments till 31st July 2023 have been estimated by CAI at 14.00 lakh bales of 170 kg each. each (equivalent to 14.69 lakh running bales of 162 kg. each).
It has retained its overall cotton supply forecast for the end of cotton season 2022-23 i.e. 30 September 2023 at the same level as earlier forecast i.e. 350.18 lakh bales of 170 kg. each (equivalent to 367.47 lakh running bales of 162 kg each).
CAI has estimated cotton consumption at 311.00 lakh bales of 170 kg each for the current crop year 2022-23. each (equivalent to 326.36 lakh running bales of 162 kg each). Last year's consumption was estimated at 318 lakh bales of 170 kg. each (equivalent to 333.70 lakh running bales of 162 kg each).
By July 31, 2023, 265 lakh bales of 170 kg are estimated to be consumed.
CAI has retained its production forecast for 2022-23 season at the same level as earlier forecast i.e. 311.18 lakh bales of 170 kg.
The committee members will keep a close watch on the cotton pressing numbers and arrivals in the coming months and if any increase or decrease in the production estimate needs to be done, the same will be done in the CAI report.
India's cotton import forecast has been retained at 1.5 million bales (170 kg) and cotton exports at 1.6 million bales (170 kg).
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