CAI RELEASES ITS COTTON PRESSING ESTIMATE UPTO 30TH JUNE 2024
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As per feedback received from various upcountry associations and other trade sources, Cotton Association of India (CAI) has estimated cotton pressing numbers for all States at 306.39 lakh bales of 170 kgs. each (equivalent to 321.52 lakh running bales of 162 kgs. each) for 9 months i.e. from 1st October 2023 to June 2024. Further, CAI has also drawn monthly cotton balance sheet for the month of June 2024. The state-wise break-up of cotton pressing numbers upto 30th June 2024 as well as cotton balance sheet for the month of June 2024 as drawn by CAI are enclosed.
The total cotton supply till end of June 2024 is estimated by the CAI at 342.29 lakh bales of 170 kgs. each (equivalent to 359.19 lakh running bales of 162 kgs. each) which consists of the pressings of 306.39 lakh bales of 170 kgs. each (equivalent to 321.52 lakh running bales of 162 kgs. each), imports of 7.00 lakh bales of 170 kgs. each (equivalent to 7.35 lakh running bales of 162 kgs. each) and the opening stock estimated by the CAI at 28.90 lakh bales of 170 kgs. each (equivalent to 30.33 lakh running bales of 162 kgs. each) at the beginning of the season.
Further, the CAI has estimated cotton consumption upto the end of June 2024 at 240 lakh bales of 170 kgs. each (equivalent to 251.85 lakh running bales of 162 kgs. each) while the export shipments upto 30th June 2024 are estimated by the CAI at 25 lakh bales of 170 kgs. each (equivalent to 26.23 lakh running bales of 162 kgs. each). Stock at the end of June 2024 is estimated at 77.29 lakh bales of 170 kgs. each (equivalent to 81.11 lakh running bales of 162 kgs. each) including 40.00 lakh bales of 170 kgs. each (equivalent to 41.98 lakh running bales of 162 kgs. each) with textile mills which is about 46 days consumption and the remaining 37.29 lakh bales of 170 kgs. each (equivalent to 39.13 lakh running bales of 162 kgs. each) with CCI, Maharashtra Federation and others (MNCs, MCX, traders, ginners, etc.) including cotton sold but not delivered.
The CAI has retained its yearly balance sheet as estimated previously. A copy of the yearly balance sheet as drawn by CAI previously is also enclosed.
Mumbai Atul S. Ganatra
Date: 29th July 2024 President
