High cotton prices may impact exports in 2022-23 marketing year: CAI

New Delhi. Cotton exports are estimated to decline 64 per cent in 2022-23 marketing year ended September due to higher prices of the commodity in the domestic market, Cotton Association of India (CAI) said on Monday.The cotton marketing year begins from October.Cotton export during 2021-22 marketing year was 43 lakh bales which fell to 15.50 lakh bales in 2022-23, according to CAI data.”The plunge in exports to 15.50 lakh bales in 2022-23, is mainly due to higher cotton prices in India, which was much higher than the global prices, during October till March.

The high prices have impacted cotton exports from India,” CAI President Atul Ganatra told PTI.Cotton imports are also expected to decline in 2022-23 by 2.50 lakh bales to 12.50 lakh bales following higher import duty, Ganatra added.Meanwhile, CAI has estimated cotton pressing numbers for 2022-23 season at 318.90 lakh bales as against its forecast of 311.18 lakh bales in the previous month. In 2021-22, the total cotton pressing stood at 307.05 lakh bales.PTI