India: Cotton and Products Annual
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FAS Mumbai (Post) forecasts MY 2022/23 cotton production will increase by five percent to 27.7 million 480 lb. bales on an area of 12.7 million hectares, two percent higher than last year. Yields are expected to improve by two percent to 475 kilograms per hectare on the expectation of a normal monsoon. Mill consumption is estimated to rise by three percent based on continued robust textile export demand. Exports are expected to expand by ten percent to 5.5 million bales due to greater exportable supplies along with larger global supplies that keep Indian cotton prices competitive. Imports are expected to rise by 50 percent to 1.5 million bales based on the expectation of local traders that the Government of India will reduce or remove the tariff on extra-long staple cotton to help local industry achieve their textile export targets.