The Cotton Affiliation of India (CAI) on Saturday lowered cotton stress estimates for the 2023-24 advertising season, beginning October 1, at 294.10 lakh bales on account of crop harm following pink bollworm infestation and uprooting of cotton crops by farmers in Haryana.
In Haryana, CAI estimated cotton urgent at 15 lakh bales in 2023-24, in comparison with 11 lakh bales final season, CAI mentioned in a press release.
In 2021-22, the entire cotton squeeze stood at 318.90 lakh bales, the assertion mentioned.
The whole provide is estimated at 54.74 lakh bales for October, which consists of arrivals of 24.34 lakh bales, imports of 1.50 lakh bales and opening inventory estimated by CAI of 28.90 lakh bales originally of the season.
Furthermore, CAI estimated cotton consumption at 26 lakh bales, whereas export shipments until October 31 are estimated at 1 lakh bales.
The inventory on the finish of October is estimated at 27.74 lakh bales, together with 25 lakh bales with textile mills, and the remaining 2.74 lakh bales with Cotton Company of India (CCI), Maharashtra Consortium and others (MNCs, merchants, pilgrims, amongst others). ), together with cotton bought however not delivered.
The whole cotton provide till the top of the 2023-24 cotton season (i.e. till September 30, 2024) is estimated at about 345 thousand bales, in comparison with the entire cotton provide final yr of 355.40 thousand bales.
The estimated cotton provide consists of opening inventory of 28.90 lakh bales at the beginning of the 2023-24 season, anticipated cotton urgent numbers for the season at 294.10 lakh bales and imports of twenty-two lakh bales.
CAI estimated that cotton imports for this season will rise by 9.50 lakh bales to 22 lakh bales, in comparison with 12.50 lakh bales final season.
Home consumption is estimated on the identical stage as final yr, i.e. 311 thousand bales.
CAI added that exports for this season are anticipated to be 1.50 lakh bales decrease at 14 lakh bales, in comparison with 15.50 lakh bales final yr.
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