India's CAI continues to cut cotton production for the current year

According to the latest forecast of the Cotton Association of India, cotton production in 2022/23 was further revised downward to 30.3 million bales (170 kg per bale), compared with 31.3 million bales in the previous forecast.

From October 2022 to March 2023, India's cotton supply is 22.902 million bales, of which 19.063 million bales of new cotton are marketed, 650,000 bales are imported and 3.189 million bales are in stock at the beginning of the period. During the same period, India's cotton consumption was 14.9 million bales, with exports of 1.05 million bales and stocks of 6.952 million bales, including 5.052 million bales in textile mills and 1.9 million bales in other stocks.

According to the forecast, the supply of Indian cotton in 2022/23 is 34.899 million bales, including opening stocks of 3.189 million bales, production of 30.3 million bales, imports of 1.5 million bales, consumption of 31.1 million bales, exports of 2.5 million bales, ending stocks of 1.389 million bales, a decrease of 200,000 bales from the previous forecast.