The Cotton Association of India (CAI) has actually modified its cotton production price quote for the existing season (October 2023-September 2024) to 294.10 lakh bales (170 kg each) in its October price quote.
The price quote protests its forecast of 295.10 lakh bales made earlier and 311.63 lakh bales last season.
The overall supply for October 2023 is approximated at 54.74 lakh bales, which includes 24.34 lakh bales arrivals, imports of 1.50 lakh bales and the opening stock, approximated by the CAI, of 28.90 lakh bales, the association stated in a declaration.
- Likewise Check Out: India’s cotton exports down to 18-year-low of 15.5 lakh bales in 2022-23 season
CAI has actually kept its intake forecast at 311 lakh bales, along with exports approximate at 14 lakh bales (16.27 lakh bales last season) and imports outlook at 22 lakh bales (12.5 lakh bales last season). Last season, too, the intake was approximated at 311 lakh bales.
The declaration stated production has actually been pruned by one lakh bales following reports of damage to the crop in Haryana due to pink bollworm problem and farmers rooting out of plants.
Keeping close watch.
” The committee members carefully enjoy the pushing numbers in the subsequent months and if any addition or decrease is needed to be made in the pushing numbers, it will be made in the CAI report,” it stated in the declaration released by its president Atul S Ganatra.
- Likewise Check Out: CAI modifies upwards cotton crop forecast to 311.18 lakh bales
According to CAI, production in northern India, consisting of Punjab, Haryana and Rajasthan is approximated at 40.66 lakh bales versus 41.66 lakh bales. The production is down in Upper Rajasthan by 7 lakh bales, with Punjab, lower Rajasthan and Haryana reporting greater production.
In main India, consisting of Gujarat, Maharashtra and Madhya Pradesh, the output is predicted at 175.65 lakh bales (190.67 lakh bales last season). The crop has actually been impacted in all 3 States generally due to truant weather condition.
In southern India, the output is approximated at 65.60 lakh bales (72.95 lakh bales) with the crop being lower in Telangana, Andhra Pradesh and Karnataka. Nevertheless, it is greater in Tamil Nadu at 6.36 lakh bales (5.31 lakh bales). The crop has actually been approximated lower in Odisha and other States too.
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