In the 2023–2024 cotton season, which starts on October 1, India is anticipated to produce between 330 and 340 lakh bales of cotton (each weighing 170 kg), according to J. Thulasidharan, president of the Indian Cotton Federation, who spoke in Coimbatore on September 24 (Sunday).
At the Federation’s annual general meeting, he announced that 12.7 million hectares had been sown. 335 lakh cotton bales had entered the market during the current season, which would expire this month, and even now, with just a few days left in the season, 15,000 to 20,000 more were arriving. Some of it came from the northern cotton-growing States and the new harvest from Karnataka.
During the following cotton season, the pattern might persist. The cotton Minimum Support Price (MSP) has been raised by the central government by 10%, and market prices currently exceed the MSP. This year, there was little demand for cotton from the textile industry, and the majority of textile facilities operated below capacity, according to him.
The import of extra long staple cotton was hampered this season by an 11% import charge, according to P. Nataraj, vice president of the federation, notwithstanding a partial easing for imports from Australia, South Africa, etc. By implementing best practises, the yield of the cotton plantations in India must be increased.
