Cotton exports increased by 84 percent in the 2023-24 season

16-Oct-2024 08:41 PM

Mumbai. Top trade body - Cotton Association of India (CAI) in its new monthly report has estimated the outstanding surplus stock of cotton in the country at the end of the 2023-24 marketing season i.e. on 30 September 2024 to be 30.19 lakh bales,

which is slightly more than the stock of 28.90 lakh bales available at the end of the 2022-23 season. Each bale of cotton weighs 170 kg. According to the association,

the consumption of cotton in the domestic sector also increased slightly from 34 lakh bales last year to 313 lakh bales in 2023-24.

According to the association, during the entire marketing season (October-September) of 2023-24, a total of 325.29 lakh bales of cotton were pressed in the country, which was more than the quantity of 318.90 lakh bales of 2022-23 season.

Similarly, during the period under review, the import of cotton from abroad increased by 5 lakh bales from 12.50 lakh bales to 17.50 lakh bales.

As a result, with outstanding stock of 28.90 lakh bales, imports of 17.50 lakh bales and production of 325.29 lakh bales, the total availability of cotton reached 371.69 lakh bales in the season 2023-24.

As far as the export of cotton from the country is concerned, there was a spectacular increase of 84 percent. According to the association,

in the marketing season of 2022-23, 15.50 lakh bales of cotton were exported from India, which jumped to 28.50 lakh bales in the season 2023-24. There was a good increase in the export of Indian cotton to Bangladesh and Vietnam.

Compared to last year, during the current year, the cotton sowing area at the national level has decreased by about 11 lakh hectare from 123.71 lakh hectare to 112.76 lakh hectare.