Surplus stock of 20 lakh bales of cotton estimated to remain at the end of the current marketing season
30-Jul-2024 08:05 PM
Mumbai. A leading trade body - Cotton Association of India (CAI) in its July monthly report has estimated the total availability of cotton to reach 363 lakh bales by 30 June 2024 with a previous outstanding stock of 28.90 lakh bales, production of 317.70 lakh bales and import of 16.40 lakh bales during the 2023-24 season.
According to the report, out of this, 201 lakh bales will be consumed in large textile mills and 100 lakh bales in small units,
while its non-mill use will be of 16 lakh bales. In this way, a total of 317 lakh bales of cotton will be used domestically and then a stock of 46 lakh bales will remain.
Out of that, 26 lakh bales are expected to be exported, due to which a surplus stock of 20 lakh bales of cotton may remain at the end of the marketing season.
In comparison, during the marketing season 2022-23 (October-September), the total availability of cotton reached 355.40 lakh bales with outstanding stock of 24 lakh bales, production of 318.90 lakh bales and import of 12.50 lakh bales.
Out of that, 280 lakh bales were consumed in big cotton mills and 15 lakh bales in small units. 16 lakh bales of cotton were used for other purposes outside the mills and a stock of 44.40 lakh bales remained. Out of this,
15.50 lakh bales were exported abroad and at the end of the season i.e. on 30 September 2023, a surplus stock of 28.90 lakh bales of cotton remained.
In the marketing season of 2023-24, 46 lakh bales of cotton were produced in the northern region, 193 lakh bales in the central zone and 73 lakh bales in the southern states.
Apart from this, a total of 317.70 lakh bales of cotton are estimated to be produced at the national level including 3 lakh bales in Orissa and 2 lakh bales in other states.
There is a possibility of a sharp increase in the consumption of cotton by small and medium cotton mills during the current marketing season as compared to the previous season.