According to the provisional estimates of the Committee on Cotton Production and Consumption, the cotton production during the current season (October 2021 to September 2022) is estimated to reach 362.18 lakh bales.
The committee in its meeting on Saturday decided that with an opening stock of 73.20 lakh bales and import of 10.50 lakh bales, the total availability this season is likely to be 445.88 lakh bales as against 485.66 bales in the previous season. The demand for textile mills including small-scale units is estimated at 322 lakh bales, and exports are estimated at 45 lakh bales. The exports in the 2020-2021 season were around 73 lakh bales.
Industry sources said last season’s consumption by textile mills was likely to be lower than anticipated due to the impact of COVID-19. So the opening stock for the current season may be higher.
Noting that cotton conditions were expected to be comfortable this season, Southern India Mills Association President Ravi Sam suggested that textile mills should wait for bulk arrivals and not rush into buying now.
On Saturday, a candy of Shankar-6 variety of cotton was priced at Rs 66,200.
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