Market Forecast: India'S CAI Will Continue To Reduce Cotton Output This Year

?

According to the latest forecast of Indian Cotton Association, the cotton output in 2022/23 will be further reduced to 30.3 million bales (170 kg per bale), and the previous forecast was 31.3 million bales.

From October 2022 to March 2023, India's cotton supply will be 22.902 million bales, including 19.063 million bales of new cotton on the market, 650000 bales of imported cotton, and 3.189 million bales of initial inventory. In the same period, India's cotton consumption was 14.9 million bales, its export volume was 1.05 million bales, and its inventory was 6.952 million bales, including 5.052 million bales in textile mills and 1.9 million bales in other inventories.

According to the forecast, India's cotton supply in 2022/23 will be 34.989 million bales, of which the initial inventory will be 3.189 million bales, the output will be 30.3 million bales, the import will be 1.5 million bales, the consumption will be 31.1 million bales, the export will be 2.5 million bales, and the final inventory will be 1.389 million bales, 200000 bales less than the last forecast.