According to the Cotton Association of India (CAI), India's opening cotton stocks for the 2026-27 crop year starting October are estimated higher by 68 per cent at a record 93.59 lakh bales (170 kg each) over 55.59 lakh bales in 2025-26, on record imports of the fibre crop. The trade body's latest estimates also peg closing stocks for the current 2025-26 season ending September at 93.59 lakh bales, 38 lakh bales higher than last year.
Record imports drive stock build
CAI Crop Committee Chairman Atul S Ganatra attributed the record closing stocks to the surge in imports over the past two years. According to his statement,
"Cotton imports of 62 lakh bales this year is a record. We have never done this much of import in a year. Over the last two-three decades, our annual imports were in the range of 15-20 lakh bales. Last year, our imports went up to 41 lakh bales. Due to the record imports in the last two years, our closing stock is also a record."
Till July-end, cotton imports of 54 lakh bales had already taken place, and another eight lakh bales are expected by September end, according to CAI. Presently, cotton imports are duty free till end October this year.
Production revised upward; key crop-year estimates
CAI has yet again raised production estimates for the 2025-26 season by 2 lakh bales to 339 lakh bales, according to a statement released by CAI President Vinay N Kotak and Ganatra. The increase is on account of upward revision of pressing estimates in Maharashtra, Madhya Pradesh, Karnataka and Tamil Nadu. Last month, CAI had raised its projection by 3 lakh bales to 337 lakh bales.
| Parameter | 2025-26 estimate | Comparison |
|---|---|---|
| Production | 339 lakh bales | Raised by 2 lakh bales; prior estimate 337 lakh bales |
| Imports | 62 lakh bales | 41 lakh bales last year |
| Consumption | 348 lakh bales | 319 lakh bales previous year |
| Exports | 15 lakh bales | 18 lakh bales previous year |
Demand and export picture
CAI has maintained consumption at 348 lakh bales, higher by around 29 lakh bales than previous year's 319 lakh bales. Till end July, cotton consumption in the country stood at 290 lakh bales. Cotton exports for the year are estimated at 15 lakh bales, lower by around 3 lakh bales from previous year's 18 lakh bales. Till July end, about 12.25 lakh bales are estimated to have been exported from the country.
Prices firm; acreage steady
Currently, cotton prices are witnessing a firm trend following the global trend and domestic demand, coupled with a potential delay in arrival of new crop on account of delayed sowing, according to CAI. Prices of cotton sold by Cotton Corporation of India (CCI) were up by ₹200 per candy (356 kg) on Tuesday. Over the past two weeks, CCI cotton prices have firmed up ₹1,400 per candy. Cotton acreage in the ongoing kharif season is estimated at over 106 lakh hectare, almost similar to last year's levels.
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