Introducing the new initiative launched by the Cotton Corporation of India (CCI) to enhance transparency in cotton traceability in India, Lalit Kumar Gupta, Managing Director, announced that henceforth each cotton bale will include a QR code providing detailed information about the fiber. The announcement was made at the third meeting of the Committee on Cotton Production and Consumption (COCPC) for the Cotton Season 2023-24, held in Mumbai.
The QR code will offer traceability for each bale, including the village of procurement, the factory where it was processed, and the date of sale, explained Gupta. This initiative will boost transparency and build trust within the cotton supply chain, he added.
Chaired by Roop Rashi, Textile Commissioner, the meeting was attended by representatives from the central and state governments, the textile industry, cotton trade, and the ginning and pressing sector. It dwelled on the various aspects of the cotton scenario, such as state-wise area, production, import, export, and consumption.
In a post-meeting press conference, Rashi assured that the industry would have sufficient raw material availability. She highlighted the rise in cotton consumption that marked the second highest consumption in the last decade.
According to COCPC, total cotton supply for the current 2023-24 season, ending September 30, is estimated at 398.38 lakh bales of 170 kg each. This includes an opening stock of 61.16 lakh bales, production of 325.22 lakh bales, and imports of 12 lakh bales. In comparison, the previous season's total supply was 390.68 lakh bales, with an opening stock of 39.48 lakh bales, production of 336.60 lakh bales, and imports of 14.60 lakh bales.
The closing balance for the current season is expected to decline to 47.38 lakh bales from 61.16 lakh bales last season. Total demand is projected to increase to 351 lakh bales this season from 329.52 lakh bales last year. Notably, exports are anticipated to rise from 15.89 lakh bales to 28 lakh bales this season.
