Cotton Output
Cotton Association ups India 2023-24 output view to 32.3 mln bales
This story was originally published at 17:39 IST on 13 September 2024
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--Cotton body ups '23-24 output view to 32.3 mln bales from 31.8 mln
--Cotton Association ups India '23-24 export view to 2.8 mln bales
--CONTEXT: India's cotton exports in 2022-23 were 1.6 mln bales
MUMBAI – The Cotton Association of India has increased the country's production estimate for 2023-24 (Oct-Sep) to 32.3 mln bales (1 bale = 170 kg) from its previous estimate of 31.8 mln bales. The association updates its estimates almost every month, based on information received from its members in 11 cotton-growing states and other trade sources.
Cotton production in the north zone, which comprises Punjab, Haryana, and Rajasthan, was at 4.5 mln bales as of Aug 31. Cotton production in the north zone is estimated to be at 4.6 mln bales, up from 4.3 mln bales last year, according to the report. The central zone, which comprises Gujarat, Maharashtra, and Madhya Pradesh, produced 19.7 mln bales as of Aug 31, according to the Cotton Association of India. Cotton production in the central zone is estimated to be at 19.8 mln bales, up from 19.5 mln bales.
The south zone produced 7.1 mln bales of cotton as of Aug 31. Other states account for the rest of the output. The opening stock for the season starting October was estimated at 2.89 mln bales, the association said.
The total supply of cotton for the 2023-24 season is estimated at 36.8 mln bales, up from 35.5 mln bales a year ago. The association has estimated imports in 2023-24 at 1.64 mln bales, higher than the 1.25 mln bales imported in 2022-23.
The association has estimated domestic demand in 2023-24 at 31.7 mln bales, up from 31.1 mln bales the previous year. It has pegged exports at 2.8 mln bales, up from 1.55 mln bales in the previous cotton season. Consumption till Aug 31 is estimated at 29.1 mln bales.
The following is the cotton balance sheet, in mln bales, for 2023-24, as per the association:
|
2023-24 |
2022-23 |
|
|
SUPPLY |
||
|
Opening stock |
2.9 |
2.4 |
|
Output |
32.3 |
31.9 |
|
Imports |
1.6 |
1.3 |
|
Total supply |
36.8 |
35.5 |
|
DEMAND |
||
|
Domestic consumption |
31.7 |
31.1 |
|
Exports |
2.8 |
1.6 |
|
Closing stock |
2.3 |
2.9 |
End
Reported by Taniva Singha Roy
Edited by Rajeev Pai
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