According to the latest forecast by the Cotton Association of India (CAI), cotton production in 2019/20 is reduced to 33.3 million bales, which is a decrease of 2.45 million bales from the previous forecast, because many ginning plants were closed due to COVID-19.

According to the latest report, the total cotton supply in India from October 2019 to April 2020 was 32.959 million bales, of which 28.509 million bales were new cotton, the cotton imports as of April 30 were 1.25 million bales, and 3.2 million bales were in stock at the beginning of the period. During the same period, India’s cotton consumption was 16 million bales and its export volume was 3.25 million bales. As of the end of April, the ending inventory was 13.709 million bales, of which 2.5 million bales in textile mills, 11.209 million bales in CCI and other channels.

 

According to the CAI forecast, the total cotton supply in India in 2019/20 is 37.7 million bales, which is lower than the previous forecast of 41.15 million bales, and the import volume is 1.5 million bales, which is lower than the 3.2 million bales in the previous year. The decrease is due to the depreciation of the Indian Rupee by 10%. Affected by the pandemic, domestic consumption in India this year was 28 million bales, a decrease of 5.1 million bales from the previous forecast. The export volume of Indian cotton was 4.7 million bales, an increase of 500,000 bales from the previous forecast and an increase of 500,000 bales year-on-year, due to the low cotton prices in India. The ending stock of cotton in India was 5 million bales, an increase of 1.15 million bales from the previous forecast.