CAI lowers India's cotton consumption to 311L bales in crop year 22-23

10 Oct '23

2 min read

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CAI has said that cotton consumption in India for crop year 2022-23 may decline to 311 lakh bales, down from 318 lakh bales in 2021-22.
Cotton exports dropped to 15.50 lakh bales from last year's 43 lakh bales.
Cotton imports also decreased to 12.50 lakh bales.
However, CAI revised its production estimates upwards to 318.90 lakh bales for 2022-23.

Cotton Association of India (CAI), primarily representing the ginning industry of the country, has reported a decline in the country's cotton consumption to 311 lakh bales of 170 kg for the crop year 2022-23, which ended in September. The estimated consumption for the preceding year 2021-22 was 318 lakh bales.

CAI has released its final estimates for cotton production, consumption, exports, imports, and carry-over stock for the recently concluded crop year. Cotton exports plummeted to approximately one-third of last year's figures. Exports were recorded at 15.50 lakh bales in 2022-23, compared to 43 lakh bales in the previous year. Import figures also dipped, with the country registering 12.50 lakh bales in 2022-23, 1.50 lakh bales lower than the 14 lakh bales imported in 2021-22, Atul S Ganatra, president of CAI, stated in a press release.

Interestingly, CAI has revised its cotton production estimate upwards for 2022-23 to 318.90 lakh bales, from an earlier estimate of 311.18 lakh bales. The revised figures reflect an increase of 7.72 lakh bales across several states including Punjab, lower Rajasthan, Gujarat, Maharashtra, Telangana, Andhra Pradesh, Karnataka, and Tamil Nadu. This revision comes after the textile industry previously objected to CAI's lower production estimates. The organisation also estimated a closing balance of 28.90 lakh bales as of September 30, 2023.

Fibre2Fashion News Desk (KUL)

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