CAI RELEASES ITS COTTON PRESSING ESTIMATE UPTO 31ST JULY 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 313.63 lakh bales of 170 kgs. each (equivalent to 329.12 lakh running bales of 162 kgs. each) for 10 months i.e. from 1st October 2023 to 31st July 2024. Further, CAI has also drawn monthly cotton balance sheet for the month of July 2024. The state-wise break-up of cotton pressing numbers upto 31st July 2024 as well as cotton balance sheet for the month of July 2024 as drawn by CAI are enclosed.
The total cotton supply till end of July 2024 is estimated by the CAI at 350.53 lakh bales of 170 kgs. each (equivalent to 367.84 lakh running bales of 162 kgs. each) which consists of the pressings of 313.63 lakh bales of 170 kgs. each (equivalent to 329.12 lakh running bales of 162 kgs. each), imports of 8.00 lakh bales of 170 kgs. each (equivalent to 8.40 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 July 2024 at 266.50 lakh bales of 170 kgs. each (equivalent to 279.66 lakh running bales of 162 kgs. each) while the export shipments upto 31st July 2024 are estimated by the CAI at 26 lakh bales of 170 kgs. each (equivalent to 27.28 lakh running bales of 162 kgs. each). Stock at the end of July 2024 is estimated at 58.03 lakh bales of 170 kgs. each (equivalent to 60.90 lakh running bales of 162 kgs. each) including 28.83 lakh bales of 170 kgs. each (equivalent to 30.25 lakh running bales of 162 kgs. each) with textile mills which is about 34 days consumption and the remaining 29.20 lakh bales of 170 kgs. each (equivalent to 30.64 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.
CAI has convened a meeting of its All India Cotton Crop Committee on 11th September 2024 to make changes in cotton production, consumption, exports and imports.
Mumbai Atul S. Ganatra
Date: 02nd September 2024 President
