CAI PEGS ITS LATEST COTTON PRESSING ESTIMATE FOR 2023-24 SEASON
AT 325.29 LAKH BALES
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Cotton Association of India (CAI) has released its latest estimate of cotton pressing numbers for the season 2023-24 beginning from 1st October 2023. At the CAI Crop Committee meeting held on 14th October 2024, the all India total cotton pressing numbers for the 2023-24 season have been arrived at 325.29 lakh bales of 170 kgs. each (equivalent to 341.35 lakh running bales of 162 kgs. each) as against its previous estimate of 323.02 lakh bales of 170 kgs. each (equivalent to 338.97 lakh running bales of 162 kgs. each). Based on input received from the members of all cotton growing state associations and other trade sources, the CAI Crop Committee has arrived at the cotton pressing numbers for 2023-24 season and also drew cotton balance sheet as on 30th September 2024. The state-wise break-up of the cotton pressing numbers and balance sheet for the season with the corresponding data for the previous crop year are enclosed.
The total cotton supply estimated by the CAI Crop Committee till end of the cotton season 2023-24 i.e. upto 30th September 2024 is 371.69 lakh bales of 170 kgs. each (equivalent to 390.05 lakh running bales of 162 kgs. each) which is more by 3.37 lakh bales than its previous estimate of 368.32 lakh bales of 170 kgs. each (equivalent to 368.52 lakh running bales of 162 kgs. each). The estimated total cotton supply consists of the opening stock of 28.90 lakh bales of 170 kgs. each (equivalent to 30.33 lakh running bales of 162 kgs. each) at the beginning of the 2023-24 cotton season on 1st October 2023, cotton pressing numbers estimated for the season at 325.29 lakh bales of 170 kgs. each and the imports for the season estimated at 17.50 lakh bales of 170 kgs. each (equivalent to 18.36 lakh running bales of 162 kgs. each). The cotton imports now estimated for the season are more by 1.10 lakh bales than estimated previously.
The CAI has reduced its domestic consumption estimate by 4.00 lakh bales to 313.00 lakh bales of 170 kgs. each (equivalent to 328.46 lakh running bales of 162 kgs. each) from its previous estimate of 317.00 lakh bales of 170 kgs. each (equivalent to 332.65 lakh running bales of 162 kgs. each). The exports for the season are estimated at 28.50 lakh bales of 170 kgs. each (equivalent to 29.91 lakh running bales of 162 kgs. each) as against 28.00 lakh bales of 170 kgs. each (equivalent to 29.38 lakh running bales of 162 kgs. each) estimated previously. The exports estimated for the previous cotton season 2022-23 were 15.50 lakh bales of 170 kgs. each (equivalent to 16.27 lakh running bales of 162 kgs. each). The carry-over stock which was earlier estimated at 23.32 lakh bales of 170 kgs. each (equivalent to 24.47 lakh running bales of 162 kgs. each) is now estimated at 30.19 lakh bales of 170 kgs. each (equivalent to 31.68 lakh running bales of 162 kgs. each).
HIGHLIGHTS OF DELIBERATIONS HELD BY THE CAI CROP COMMITTEE ON 14TH OCTOBER 2024
The Crop Committee of the Cotton Association of India (CAI) held its meeting on Monday, the 14th October 2024, which was attended by 15 members representing various cotton growing regions of the country. The Committee arrived at its final estimate of the cotton pressing numbers for 2023-24 season and drew the estimated cotton balance sheet based on the data available from various trade sources, upcountry associations and other stakeholders.
The following are the highlights of the deliberations held at this meeting: -
1. CONSUMPTION
The cotton consumption for the current crop year 2023-24 is estimated at 313.00 lakh bales of 170 kgs. each (equivalent to 328.46 lakh running bales of 162 kgs. each). The previous year’s consumption estimate was 311.00 lakh bales of 170 kgs. each (equivalent to 326.36 lakh running bales of 162 kgs. each).
2. COTTON PRESSING
The CAI has increased its estimate of cotton pressing for 2023-24 season to 325.29 lakh bales of 170 kgs. each (equivalent to 341.35 lakh running bales of 162 kgs. each) from its previous estimate of 323.02 lakh bales of 170 kgs. each (equivalent to 338.97 lakh running bales of 162 kgs. each). The changes made in the state-wise cotton pressing estimates compared to those estimated previously are given below: -
(in lakh bales of 170 kgs. each)
|
State |
Increase (+) / Decrease (-) |
|
North |
(-) 0.38 |
|
Gujarat |
(+) 0.50 |
|
Maharashtra |
(+) 0.55 |
|
Madhya Pradesh |
(+) 0.50 |
|
Karnataka |
(+) 1.10 |
|
TOTAL |
(+) 2.27 |
3. IMPORTS
The cotton imports for 2023-24 season are estimated at 17.50 lakh bales of 170 kgs. each (equivalent to 18.36 lakh running bales of 162 kgs. each). This imports estimate is higher by 5.00 lakh bales than the import estimate of 12.50 lakh bales of 170 kgs. each (equivalent to 13.12 lakh running bales of 162 kgs. each) for the previous crop year 2022-23 and higher by 1.10 lakh bales than estimated previously.
4. EXPORTS
The Committee estimated cotton exports for the current season at 28.50 lakh bales of 170 kgs. each (equivalent to 29.91 lakh running bales of 162 kgs. each) which is higher by 0.50 lakh bales of 170 kgs. each estimated previously.
The export estimated for the previous crop year 2022-23 were at 15.50 lakh bales of 170 kgs. each (equivalent to 16.27 lakh running bales of 162 kgs. each).
5. CLOSING STOCK AS ON 30TH SEPTEMBER 2024
Closing stock as on 30th September 2024 is estimated by the Committee at 30.19 lakh bales of 170 kgs. each (equivalent to 31.68 lakh running bales of 162 kgs. each).
Mumbai Atul S. Ganatra
Date: 15th October 2024 President
