Shrinking crop acreage in the North and Gujarat followed by a decline in production is likely to result in a 36.53 per cent dip in India's cotton exports during the 2024-25 season. Beginning October 1, 2024, India’s cotton exports are likely to contract to 18 lakh bales as against 28.36 lakh bales in the 2023-24 season, as per the Cotton Association of India (CAI).
Cotton acreage in the North spanning Punjab, Haryana and Rajasthan has shrunk by 35 per cent while Gujarat acreage has lowered by 15 per cent, reveals Atul Ganatra, President, CAI. This will help India stabilise cotton prices in comparison to the global market, he adds.
Total cotton pressing during the 2023-24 is estimated to reach 302.25 lakh bales compared to 327.45 lakh bales in the previous season. By November 2024-end, cotton supply in India is likely to rise to 108.41 lakh bales. This will include 69.22 lakh bales of cotton pressing, imports of 9 lakh bales and the opening stock of 30.19 lakh bales.
Cotton consumption till November-end is estimated to be 54 lakh bales while the exports are likely to reach 4 lakh bales of 170 kg by the end of the month.
