2023/24 India's cotton production expected to reach as high as 34 million bales

J. Thulasidharan, chairman of the Cotton Federation of India, said that in the 2023/24 season starting on October 1, India’s cotton production is expected to reach 33-34 million bales (170 kg per bale).

 

At the federation's annual general meeting, Thulasidharan announced that more than 12.7 million hectares of land had been sown. In the current year, which expires this month, about 33.5 million bales of cotton have entered the market, and even now, with a few days left in the current year, there are still 15,000-20,000 bales of cotton entering the market. Some of it comes from new harvests in the cotton-growing states of the north and Karnataka.

 

India has increased the minimum support price (MSP) of cotton by 10%, and the current market price exceeds the MSP. Thulasidharan said that the textile industry has little demand for cotton this year and most textile factories have insufficient production capacity.

 

Nishant Asher, secretary of the federation, said that despite the economic recession, exports of yarn and finished textile products have recovered recently.