The CAI crop committee has released a report updated until April 30, 2024. It has taken stock from regional trade organisations on the matter. CAI has stated in its report that the estimates of cotton imports into India are maintained at the same level as estimated earlier, i.e., at 20.40 lakh bales, compared to 12.50 lakh bales estimated for last season. Therefore, cotton imports will be 7.90 lakh bales higher than last year. Until April 30, 2024, about 5 lakh bales are estimated to have arrived at Indian ports.
The Committee has also retained its cotton exports estimate at 22 lakh bales, which are 6.50 lakh bales higher than the exports of 15.50 lakh bales estimated for last season. The closing stock as of 30 September 2024 is estimated at 20 lakh bales, compared to 28.90 lakh bales last year.
CAI has maintained cotton consumption for the 2023-24 season at 317 lakh bales, the same as estimated previously. Until April 30, 2024, the consumption is estimated at 192.50 lakh bales for the first seven months of the current season.
The Committee has retained its cotton pressing estimate at 309.70 lakh bales, with slight changes. The Committee has increased the cotton pressing estimate for Telangana for the entire year by 1 lakh bales, from 34.00 lakh bales to 35.00 lakh bales. Meanwhile, the cotton pressing estimate for Tamil Nadu has been reduced by 1 lakh bales, from 6.50 lakh bales to 5.50 lakh bales.
ALCHEMPro News Desk (KUL)
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