Cotton production to increase by 15%

Due to the cotton shortage in the country, the Government is worried about the closure of 50% of the cotton spinning mills. On the other hand, it has been reported by the Cotton Corporation of India (CCI), that the cotton production in 2022-23, will increase by 15% to 360 lakh bales of 170 kilograms each. This, however, is subject to the weather remaining conducive till October.

In May, the price of the Indian cotton increased to INR 1,10,000 per candy with compared to January which was INR 60,00 per candy. It was due to the high prices, area under cotton sowing has increased by 7% to 8%.

“The area under cotton has increased to 128 lakh hectares against 120.55 in the previous year. As yields are also expected to increase due to excellent weather conditions, production of cotton is expected to increase to 360 lakh bales,” stated Arjun Dave, deputy general manager, CCI. He was speaking at the All India Meet on Cotton Trade organised by the Khandesh Gin Press Association, Jalgaon.