Indian cotton stocks could fall to their lowest level in nearly two decades, by a margin of 16 per cent in 2022-23, said a leading trade body. This may be a result of lower crop yields due to adverse weather, it speculated. The Cotton Association of India (CAI) said that the cotton stocks at the end of 2022-23 could fall to 2.69 million bales, which would be the lowest cince 2003-04. Likely to lead to lower cotton shipments from India, this drop in output will allow countries like the US, Australia and Brazil to increase their shipments to key buyers in Asia such as China and Pakistan. The CAI added that cotton exports for India in the season could fall to 3 million bales from 4.3 million bales a year ago.

Source: Economic Times March 17, 2023 23:12 UTC