Cotton Association of India (CAI), estimates, total cotton supply in the country will reach 345 lakh bales during the 2023-24 cotton season with each weighing 170kg. Additionally, cotton pressing during the season will remain constant at 294.10 lakh bales, predicts CAI.
Total cotton consumption during this period will surge to 311 lakh bales. However, production in Gujarat will decline by 9 lakh bales this year from 85 lakh bales output recorded last year. .
Total cotton supply until November 2023-end will reach 92.05 lakh bales this year. Of this, 60.15 lakh bales will come from the market yard, while 3 lakh bales will be obtained from imports. CAI will have an opening stock of 28.90 lakh bales.
Cotton consumption upto November 2023 will reach 53 lakh bales, while exports are expected to amount to 3 lakh bales.
For the entire 2023-24, India’s cotton consumption will reach 311 lakh bales. Cotton supply from Gujarat during the year will be around 85 lakh bales compared to approximately 94 lakh bales in the previous season.
