According to a prominent trade organisation, India’s cotton exports are expected to reach their lowest level in 18 years in 2022–2023 after production fell short of local demand for the second straight year.
Lower exports from the largest producer on the planet might keep prices stable. Additionally, it might increase domestic costs and hurt the profits of regional textile businesses.
The Cotton Association of India (CAI) warned in a statement that exports could drop to 2 million bales in the current marketing year, which ends on September 30. This would be the lowest level since 2004/05 and well below the 4.3 million bales exported the previous year.
According to the CAI, production could decrease from the prior forecast of 30.3 million bales to 29.84 million bales.Additionally, local consumption may decline by 2.2% from a year ago to It stated 31.1 million bales.
According to the trade group, the decrease in domestic production may result in cotton stocks reaching 1.4 million bales at the conclusion of the marketing year in 2022–2023—the lowest level in more than three decades.
