Cotton Association of India (CAI) has released its July estimate of the cotton crop for the season 2022-23 beginning from 1st October 2022. The CAI has retained its cotton crop estimate for the 2022-23 season at 311.18 lakh bales of 170 kgs. each (equivalent to 326.55 lakh running bales of 162 kgs. each). This estimate has been arrived at by the Crop Committee of the Association at its meeting held on 12th August 2023. Based on pressing numbers and input received from the members of all the 11 cotton growing state associations and other trade sources, the Committee estimated the cotton crop for the 2022-23 season and drew cotton balance sheet.
The state-wise break-up of the cotton production and balance sheet for the season with the corresponding data for the previous crop year are enclosed. The total cotton supply for the months of October 2022 to July 2023 is estimated at 332.30 lakh bales of 170 kgs. each (equivalent to 348.71 lakh running bales of 162 kgs. each), which consists of the arrivals of 296.80 lakh bales of 170 kgs. each (equivalent to 311.46 lakh running bales of 162 kgs. each), imports of 11.50 lakh bales of 170 kgs. each (equivalent to 12.07 lakh running bales of 162 kgs. each) and the opening stock estimated by the CAI at 24 lakh bales of 170 kgs. each (equivalent to 25.19 lakh running bales of 162 kgs. each) at the beginning of the season.
Further, the CAI has estimated cotton consumption for the months of October 2022 to July 2023 at 265 lakh bales of 170 kgs. each (equivalent to 278.09 lakh running bales of 162 kgs. each) while the export shipments upto 31st July 2023 are estimated by the CAI at 14.00 lakh bales of 170 kgs. each (equivalent to 14.69 lakh running bales of 162 kgs. each). Stock at the end of July 2023 is estimated at 53.30 lakh bales of 170 kgs. each (equivalent to 55.93 lakh running bales of 162 kgs. each) including 28 lakh bales of 170 kgs. each (equivalent to 29.38 lakh running bales of 162 kgs. each) with textile mills and the remaining 25.30 lakh bales of 170 kgs. each (equivalent to 26.55 lakh running bales of 162 kgs. each) with the CCI, Maharashtra Federation and others (MNCs, traders, ginners, etc.) including cotton sold but not delivered.
The CAI has retained its total cotton supply estimate till end of the cotton season 2022-23 i.e. upto 30th September 2023 at the same level as estimated earlier i.e. at 350.18 lakh bales of 170 kgs. each (equivalent to 367.47 lakh running bales of 162 kgs. each). The total cotton supply consists of the opening stock of 24 lakh bales of 170 kgs. each (equivalent to 25.19 lakh running bales of 162 kgs. each) at the beginning of the cotton season on 1st October 2022, crop for the season estimated at 311.18 lakh bales of 170 kgs. each (equivalent to 326.55 lakh running bales of 162 kgs. each) (based on pressing figures) and the imports for the season estimated by the CAI at 15 lakh bales of 170 kgs. each (equivalent to 15.74 lakh running bales of 162 kgs. each). The import estimated by the CAI for the corresponding year 2021-22 was at 14 lakh bales of 170 kgs. each (equivalent to 14.69 lakh running bales of 162 kgs. each).
The domestic consumption for the season is also estimated at the same level as estimated previously i.e. at 311 lakh bales of 170 kgs. each (equivalent to 326.36 lakh running bales of 162 kgs. each). The exports for the season have also been retained at 16 lakh bales of 170 kgs. each (equivalent to 16.79 lakh running bales of 162 kgs. each).
The exports estimate for the previous cotton season 2021-22 was 43 lakh bales of 170 kgs. each (equivalent to 45.12 lakh running bales of 162 kgs. each). The carry-over stock is estimated at 23.18 lakh bales of 170 kgs. each (equivalent to 24.32 lakh running bales of 162 kgs. each).
HIGHLIGHTS OF DELIBERATIONS HELD BY THE CAI CROP COMMITTEE ON 12TH AUGUST 2023
The Crop Committee of the Cotton Association of India (CAI) held its meeting on Saturday, the 12th August 2023, which was attended by 20 members representing various cotton growing regions of the country. The Committee arrived at its July estimate of the cotton crop for 2022-23 season and drew the estimated cotton balance sheet based on the data available from various trade sources, upcountry associations and other stakeholders.
The following are the highlights of the deliberations held at this meeting: –
1. CONSUMPTION
The CAI has estimated cotton consumption for the current crop year 2022-23 at 311.00 lakh bales of 170 kgs. each (equivalent to 326.36 lakh running bales of 162 kgs. each). The previous year’s consumption estimate was 318 lakh bales of 170 kgs. each (equivalent to 333.70 lakh running bales of 162 kgs. each). Upto 31st July 2023, the consumption is estimated at 265 lakh bales of 170 kgs. each (equivalent to 278.09 lakh running bales of 162 kgs. each).
2. PRODUCTION
The CAI has retained its production estimate for 2022-23 season at the same level as estimated previously i.e. at 311.18 lakh bales of 170 kgs. each (equivalent to 326.55 lakh running bales of 162 kgs. each). The CAI Crop Committee has estimated crop figures based on the cotton pressing numbers and arrivals concerning various states based on the input received in Crop Committee meeting from the members of the following Associations: –
The Committee members will have a close watch on the cotton pressing numbers and arrivals in the subsequent months and if any addition or reduction is required to be made in the production estimate, the same will be made in the CAI report.
1. IMPORTS
The estimate of cotton imports into India is estimated at 15 lakh bales of 170 kgs. each (equivalent to 15.74 lakh running bales of 162 kgs. each) which is more by 1 lakh bales than the import estimate of 14 lakh bales of 170 kgs. each (equivalent to 14.69 lakh running bales of 162 kgs. each) for the previous crop year 2021-22.
Upto 31 st July 2023, about 11.50 lakh bales of 170 kgs. each (equivalent to 12.07 lakh running bales of 162 kgs. each) are estimated to have arrived the Indian Ports.
2. EXPORTS
The Committee has retained its cotton exports estimate at 16 lakh bales of 170 kgs. each (equivalent to 16.79 lakh running bales of 162 kgs. each) which is less by 27 lakh bales of 170 kgs. each (equivalent to 28.33 lakh running bales of 162 kgs. each) than the exports estimate of 43.00 lakh bales of 170 kgs. each (equivalent to 45.12 lakh running bales of 162 kgs. each) for the crop year 2021-22. Upto 31 st July 2023, about 14.00 lakh bales of 170 kgs. each (equivalent to 14.69 lakh running bales of 162 kgs. each) are estimated to have been shipped.
1. ARRIVALS
Indian cotton arrivals during the months of October 2022 to July 2023 are estimated at 296.80 lakh bales of 170 kgs. each (equivalent to 311.46 lakh running bales of 162 kgs. each).
2. CLOSING STOCK AS ON 30 TH SEPTEMBER 2023
Closing stock as on 30 th September 2023 is estimated by the Committee at 23.18 lakh bales of 170 kgs. each (equivalent to 24.32 lakh running bales of 162 kgs. each).
