The Cotton Association of India has retained its cotton crop estimate for the 2022-23 season at 344 lakh bales (1 bale equals 170 kg).
The association on Monday released its October estimate of the cotton crop for the season 2022-23 that began on October 1, 2022. In the major growing states of Punjab, Haryana, and Gujarat, cotton production is likely to decline by 0.5 percent and 2.0 percent and rise by 2.5 percent, respectively.
The Crop Committee of the Cotton Association (CAI) held its meeting on Monday, which was attended by members representing various country cotton-growing regions.
The Committee arrived at its October estimate of the cotton crop for the 2022-23 season. It drew the estimation based on the data available from various trade sources, associations, and other stakeholders.
It estimated total cotton consumption for the 2022-23 season at 300.00 lakh bales. The previous year’s consumption estimate was 318 lakh bales.
Imports are likely to fall by 2 lakh bales to estimated 12 lakh bales.
Further, the exports for the season 2022-23 are estimated at 30 lakh bales, against the previous year’s 43 lakh bales.