Written by Rajendra Jadhav for Reuters
MUMBAI, Feb 14 (Reuters) - India is likely to produce 32.15 million bales of cotton in the 2022/23 season that started on Oct. 1, down 2.7% from an earlier estimate, a leading trade body said on Tuesday, as adverse weather curtailed the yields.
The drop in output is likely to lead to lower cotton shipments from India, allowing rivals such as the United States, Brazil and Australia to increase cargoes to key Asian buyers such as China and Pakistan. It may also support global prices CTc1.
India cotton exports in the season could fall to 3 million tonnes from 4.3 million tonnes a year ago, the Cotton Association of India (CAI) said.
(1 Indian bale = 170 kg)
(Reporting by Rajendra Jadhav, editing by Ed Osmond)
((rajendra.jadhav@thomsonreuters.com; +91-22-68414378 ; Reuters Messaging: rajendra.jadhav.thomsonreuters.com@reuters.net))
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