The Cotton Association of India (CAI) estimates the total cotton supply in the country for the 2023-24 cotton season to be 345 lakh bales (170 kg each).
It has retained the cotton pressure estimate for the 2023-24 season at 294.10 lakh bales. The association said the total consumption would be 311 lakh bales. CAI estimates that the total cotton production from Gujarat will be about 9 lakh bales less than last year's 85 lakh bales.
CAI released the November estimate of 294.10 lakh bales for cotton pressing numbers for the 2023-24 season starting October 1, 2023.
Total supply by the end of November 2023 is estimated to be 92.05 lakh bales, which includes arrivals of 60.15 lakh bales in market yards, imports of 3 lakh bales and opening stock of 28.90 lakh bales.
Furthermore, CAI estimates that cotton consumption by the end of November 2023 will be 53 lakh bales while export shipments during this period are estimated at 3 lakh bales.
CAI estimates consumption for the 2023-24 season at 311 lakh bales. Consumption by November 30, 2023 is estimated to be 53 lakh bales. Gujarat is the largest cotton producing state in the country and its cotton supply this year will be around 85 lakh bales, compared to around 94 lakh bales last season.
Source: TOI
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