Compared to last year, the closing cotton stock for 2022-23 season is expected to increase by 2.5 million bales (170 kg per bale) to nearly 5.8 million bales.
This is mainly to reduce domestic consumption as well as exports coupled with higher production led by increased sowing area. India’s cotton season is from 1st October to 30th September.
Atul Ganatra, President, Cotton Association of India (CAI) said that as on 30th September 2022, closing cotton stock stood at 3.3 million bales. However, looking at consumption and export trends for the current season, domestic cotton consumption is expected to drop to 2 million bales and export too is likely to reduce by 0.5 million bales. It means closing stock would go up to 5.8 million bales as on 30th September 2023.
CAI has estimated cotton production of 34.4 million bales for 2022-23 which is almost 3.7 million bales higher than that of the previous year. This year so far, sowing is complete in 12.8 million hectares which is one million hectares higher than 2021-22.
Looking at the current situation of spinning mills, it is being estimated by the association that domestic cotton consumption would reduce from 32 million bales to 30 million bales.
As most of the spinning mills are running at 50 per cent to 60 per cent capacity,this trend is expected to continue, so cotton consumption of spinning mills across the nation will be nearly 5.5 million bales from October to December this year. It was nearly 8 million bales last year during the corresponding period.
