According to the Committee on Cotton Production and Consumption’s forecasts, cotton production in India is expected to hit 362.18 lakh bales this season. Total availability this season is expected to be 445.88 lakh bales, down from 485.66 bales the previous season, thanks to an initial stock of 73.20 lakh bales and imports of 10.50 lakh bales. Textile mill demand, including small-scale plants, is anticipated to be 322 lakh bales, with exports estimated to be 45 lakh bales. Almost 73 lakh bales were exported in the 2020-2021 season.
Textile mill consumption was lower than expected last season owing to Covid. As a result, the current season’s opening stock may be higher. This season, the cotton position is projected to be comfortable. Textile mills may want to wait for bulk deliveries before making orders. A cotton candy made from the Shankar-6 type costs Rs.66, 200.
China accounts for 40% of India’s total cotton exports. Similarly, China accounts for 28% of India’s yarn exports. Vietnam is India’s third largest importer of cotton and cotton yarn. Cotton exports from India may see a temporary delay due to the development of the coronavirus, which is expected to reduce demand for the fiber.