India: Cotton and Products Update

FAS Mumbai forecasts marketing year (MY) 2023/24 India cotton production at 26 million 480 lb. bales on 12.7 million hectares area planted, unchanged from the previous report. Yields are expected to be marginally higher than last year as farmers improve their integrated pest management practices. Farmers in southern states have shifted to paddy and oilseeds planting due to higher price expectations. Post forecasts MY 2023/24 mill consumption and export demand to remain weak as fiber and yarn prices fall from record highs last year. Higher exportable surplus will likely limit mills to import much smaller volumes in the new marketing year.