India will produce 34.4 million bales (1 Indian bale equal to 170 kgs) of cotton in the season of 2022 to 2023 that started on October 1. The production has increased to 1 per cent from the previous year after farmers expanded the crop area, as per a trade body.
The rise in the output of the world’s biggest producer of cotton could weigh on global prices that have corrected sharply after rising earlier this year to their highest in a decade.
The cotton crop area has increased by around 10 per cent and per hectare, yields are also likely to rise this year, said Atul Ganatra, president of the Cotton Association of India (CAI).
India started the new season with a carry-forward stock of 3.19 million bales, down from last year’s 7.18 million bales, he said.
The country’s cotton consumption, which was affected by lower stocks and higher prices, could improve to 32 million bales in the new season from 31.8 million bales a year ago, he added. Exports could fall to 3.5 million bales in the new season from 4.3 million bales a year ago.
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