Outstanding stock of 30.19 lakh bales of cotton at the beginning of the current marketing season
15-Oct-2024 06:43 PM
Mumbai. A leading trade organization - Cotton Association of India (CAI) has expressed the possibility of pressing of 325.29 lakh bales of cotton in the country during the marketing season 2023-24 (October-September), which is 2.27 lakh bales more than the previous estimate of 323.02 lakh bales.
It is known that each bale of cotton weighs 170 kg and a running bale weighs 162 kg. According to the association, at the time of the start of the new marketing season (2024-25) on 1 October 2024, a total outstanding stock of 30.19 lakh bales of cotton was present in the country.
According to the association, the total availability of cotton in the country during the 2023-24 season was 371.69 lakh bales, which included the previous outstanding stock of 28.90 lakh bales, production of 325.29 lakh bales and import of 17.50 lakh bales.
During the season under review, the consumption of cotton has been estimated at 313 lakh bales while export of 28.50 lakh bales has been estimated.
In the season 2022-23, 12.50 lakh bales of cotton were imported. Earlier the outstanding surplus stock of cotton was estimated to be 23.32 lakh bales.
According to the data of the association, during the 2023-24 season, compared to the 2022-23 season, the outstanding surplus stock of cotton increased from 24 lakh bales to 28.90 lakh bales,
production jumped from 318.90 lakh bales to 325.29 lakh bales and imports increased from 12.50 lakh bales to 17.50 lakh bales and thus the total availability jumped from 355.40 lakh bales to 371.09 lakh bales.
In the 2023-24 season, 201 lakh bales of cotton were consumed in big textile mills and 96 lakh bales in small units.
Apart from this, 16 lakh bales were used for other purposes. In this way, a total of 313 lakh was used and a stock of 58.69 lakh bales remained.
Out of this, 28.50 lakh bales of cotton were exported abroad and at the end of the season, an outstanding stock of 30.19 lakh bales remained. Out of this, 28.50 lakh bales of cotton were exported abroad and a surplus stock of 30.19 lakh bales remained at the end of the season.