Cotton exports up 68 per cent at 26 lakh bales until June-end

India’s cotton exports within the first 9 months of promoting 12 months 2023-24 had been up 68 per cent at 26 lakh bales of 170 kg every in contrast with 15.50 lakh bales throughout the identical interval a 12 months in the past. Increased surplus coupled with demand from nations resembling Bangladesh and Vietnam amongst others has led to a surge in exports of the Indian fibre crop.

Based on the Cotton Affiliation of India (CAI)’s steadiness sheet as of end-June, the closing shares on the finish of the crop 12 months 2023-24 are estimated to be 20 lakh bales in opposition to 28.90 lakh bales within the earlier 12 months.

CAI has estimated the demand at 317 lakh bales over 311 lakh bales final 12 months. Provides throughout the 12 months are pegged at 363 lakh bales(355.40 lakh bales final 12 months). The provides of 363 lakh bales embody the opening inventory of 28.9 lakh bales and imports of 16.40 lakh bales. Imports throughout the earlier 12 months stood at 12.5 lakh bales.

CAI stated cotton shares on the finish of June 2024 are estimated at 77.29 lakh bales of 170 kgs every together with 40 lakh bales with textile mills which is about 46 days consumption. The remaining 37.29 lakh bales are with CCI, Maharashtra Federation and others (MNCs, MCX, merchants, ginners, and many others.) together with cotton bought however not delivered. The CAI has retained its yearly steadiness sheet as estimated beforehand.