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CAI retains cotton crop estimate at 360 lakh bales

CAI retains cotton crop estimate at 360 lakh bales

MAY 8 2018

 

Retaining its earlier estimate of cotton crop at 360 lakh bales (each of 170 kg), the Cotton Association of India (CAI) has noted that around 86 per cent of the crop has already arrived in the market by April 30, 2018.

 

The apex cotton trade body has also made minor changes in the production figures for the states.

 

For Maharashtra and Karnataka, cotton production is estimated to be higher by 2 lakh bales and 50,000 bales, respectively, while the production in Telangana and Andhra Pradesh is now estimated lower by 1.50 lakh bales and 1 lakh bales, respectively, thus retaining the crop at the same level as in the previous estimate last month.

 

The Statistics Committee of CAI has projected total cotton supply up to April 30, 2018 at 347 lakh bales. This includes market arrivals of 311 lakh bales and imports estimated at 6 lakh bales, the CAI statement said.

 

The country’s cotton consumption for the 7 months from October 2017 to April 2018 stood at 189 lakh bales with an average of 27 lakh bales per month. Exports are estimated at 61 lakh bales as on April-end.

 

Cotton stock at the end of April 2018 is estimated at 97 lakh bales, including 52 lakh bales with textile mills, while the remaining 45 lakh bales is estimated to be held by the Cotton Corporation of India and others, including multinationals, traders, and ginners.

 

As per the projected yearly balance sheet for the season 2017-18, total cotton supply till the end of the season by September 30, 2018 will be at 410 lakh bales, including the opening stock of 30 lakh bales at the beginning of the season.

 

Domestic consumption is estimated at 324 lakh bales, while the exports are estimated to be 65 lakh bales. The carry-over stock at the end of the 2017-18 season is estimated by CAI at 21 lakh bales. The Statistics Committee is scheduled to have its next meeting on June 11.

 

Source:https://www.thehindubusinessline.com

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