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Saturday, February 24, 2024

India’s cotton exports 50% lower than forecast earlier

According to the Cotton Association of India (CAI), Indian cotton exports are expected to have dropped to 15.50 lakh bales (1 bale = 170 kg) in the just completed 2022-23 cotton season ending September 30.

This cotton export figure is nearly down by 50 percent of the 30 lakh bales forecast made by the Committee on Cotton Production and Consumption (CCPC).

The figure of 15.50 lakh bales is also 50,000 bales less than the forecast of CAI made earlier.

India also imported less cotton in the previous cotton season which totaled 12.5 lakh bales, which is lower by 2.50 lakh bales than estimated for the 2022-23 season by CAI previously.

Demand for Indian cotton has been mainly affected due to the slowdown in demand for garments amid high inflationary trends in the markets of the US and EU.

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