Trade body says India’s cotton production up 12% thanks to larger crop area

MUMBAI: India has the potential to produce 34.4 million bales of cotton in the 2022-23 crop year beginning October 1, up 12% from a year ago after farmers expanded the acreage, a base trade agency said on Tuesday.
An increase in output by the world’s largest cotton producer could affect global prices, which have corrected sharply after rising earlier this year to their highest levels in a decade.
The cotton area Atul Ganatra, president of Cotton Association of India (CAI), told an industry conference.
India started the new season with a transitional stock of 3.19 million bales, down from 7.18 million bales last year, he said.
The country’s cotton consumption, which has been hit by falling stocks and higher prices, could improve to 32 million bales in the new crop 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 a year ago.


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