Cotton production is lower by 7.49% from 31.89 million bales in the 2022-23 marketing season. It is also lower than the government estimate of 31.65 million bales for 2023-24.
Releasing the first estimate, the CAI said, “After 2008-09, this is the lowest Indian cotton crop.”
Total area sown to cotton is lower by 5.5% and yield is also expected to drop by up to 20% due to unfavourable weather caused by El Nino, it said.
The CAI has projected cotton production at 8.5 million bales in Gujarat, 7.6 million bales in Maharashtra, 3 million bales in Telangana, 1.85 million bales in Karnataka, 1.8 million bales in Madhya Pradesh, and 1.6 million bales in Haryana during 2023-24 season.
Opening stock is pegged at 2.89 million bales as on October 1, while cotton imports are estimated at 2.2 million bales and exports at 1.4 million bales in 2023-24 season.The domestic demand is pegged at 31.1 million bales during 2023-24 and surplus would be around 3.5 million bales, the CAI added.
