CAI expects 36.5% dip in cotton exports to 1.8 mn bales on lower output

India's cotton exports are likely to decline 36.53 per cent in the 2024-25 season, beginning from October 1, to 18 lakh bales due to lower production following shrinking acreage of the crop in the north and Gujarat, Cotton Association of India (CAI) said on Wednesday.

The total exports during the 2023-24 season stood at 28.36 lakh bales, according to CAI data.

"The decline in cotton exports is mainly due to a decline in production following lower acreage this year. The acreage for cotton crop has shrunk 35 per cent in the north cotton growing region (Punjab, Haryana, and Rajasthan) and by 15 per cent in Gujarat. This is going to keep the cotton prices steady compared to the global markets," CAI President Atul Ganatra told PTI.

The total cotton pressing 2023-24 season is estimated at 302.25 lakh bales compared to 327.45 lakh bales in the previous season.

Meanwhile, the total cotton supply till end of November 2024 is estimated at 108.41 lakh bales, comprising the pressing figures of 69.22 lakh bales, imports of 9 lakh bales and the opening stock estimated at 30.19 lakh bales at the beginning of the season.

Further, the CAI has estimated cotton consumption till November-end at 54 lakh bales while the export shipments up to November 30, are estimated at 4 lakh bales of 170 kg.

Stock at the end of November is estimated at 50.41 lakh bales, CAI added.