India’s Cotton Industry Sees Positive Trends in 2023-24 Season

In Photo: Textile Commissioner, Ministry of Textiles, Government of India Smt. Roop Rashi and CMD, Cotton Corporation of India Ltd. Shri Lalit Kumar Gupta

In the third meeting of the Committee on Cotton Production and Consumption (COCPC) for the Cotton Season 2023-24, held under the chairperson ship of Textile Commissioner Smt. Roop Rashi, several key points emerged. The textile industry can expect sufficient raw material availability, and this year’s cotton consumption ranks as the second-highest in the past decade. Additionally, the Cotton Corporation of India (CCI) has introduced QR code traceability for every bale, enhancing transparency and quality. Let’s delve into the details:

Cotton Balance Sheet for the cotton season 2022-23 and 2023-24 as drawn by COCPC as on 24.06.2024

Particulars	2022-23	2023-24 (P)
(In lakh bales of 170 kg. Each)	(in Thousand Tons)	(In lakh bales of 170 kg. Each)	(in Thousand Tons)
SUPPLY
Opening Stock	39.48	671.16	61.16	1039.72
Crop	336.60	5722.20	325.22	5528.74
Import	14.60	248.20	12.00	204.00
TOTAL SUPPLY	390.68	6641.56	398.38	6772.46
DEMAND
Non-MSME Consumption	197.80	3362.60	204.00	3468.00
MSME Consumption	99.83	1697.11	103.00	1751.00
Non Textile Consumption	16.00	272.00	16.00	272.00
Export	15.89	270.13	28.00	476.00
TOTAL DEMAND	329.52	5601.84	351.00	5967.00
Closing Stock.	61.16	1039.72	47.38	805.46

P-Provisional

In summary, India’s cotton industry is poised for growth, with increased consumption and transparency measures ensuring a positive trajectory for the 2023-24 season.

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by agrikunba.