The Ministry of Textiles’ Committee on Cotton Production and Consumption estimates the crop size for the current season at 337.23 lakh bales (170 kg apiece), which is over 8% larger than the crop size for the previous season.
According to a senior official in the Ministry of Textiles, the Committee initially estimated an output of 341 lakh bales but has since revised those projections downward as the crop is lower in the northern States. According to reports, 1.8 lakh bales arrive at the markets every day, and “we predict higher movement next month.” The official predicted an increase of arrivals.
In the current cotton season, consumption by textile mills—including small-scale units—is anticipated to reach 295 lakh bales, whereas 35 lakh bales are predicted to be exported.
According to Nishanth A. Asher, secretary of the Indian Cotton Federation, 1.3 crore bales have arrived in the market overall since the start of the current season on October 1, 2022. “We think that the majority of the kappas are being withheld by farmers. Arrivals are likely to pick up in a week or two as summer approaches. If not, we must update our production projections once more. In order to determine the crop, the following month is critical. Yet, because of the global decline in the textile industry, large changes in domestic cotton pricing are unlikely to occur, he added.
