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Textile Raw materials market
by: Professor Seshadri Ramkumar, Texas Tech University, USA
(July 5, 2022, Chennai, India ): Two regions in the world need to be watched carefully to have better grip on cotton production, this new season starting October 1, 2022.
According to the latest USDA estimates, United States’ cotton producers planted 12.3 million acres of upland cotton, a 11% increase from last year. Interesting figure is the steep increase in planting in Texas. Texas acreage has increased by 750,000 acres. While drought is on going, how much yield will come depends on the weather.
Similarly, State of Gujarat in India will see an increase in acreage by 15 to 20%, as farmers are excited by high price for cotton, they received this year. Maharashtra may see a rise of about 12% increase in plantings. If weather progresses well, Gujarat may get about 90 lakh bales. If all things go well, Indian crop may range between 350 to 360 lakh bales (170 kgs/bale).
All eyes on the drought in Texas and monsoon and insect pressures in India.
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