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CAI raises 2017-18 cotton crop estimate to 365 lakh bales

CAI raises 2017-18 cotton crop estimate to 365 lakh bales

Wed June 13 2018

 

The Cotton Association of India (CAI), in its May estimate, has increased the ongoing season’s cotton crop projection to 365 lakh bales of 170 kg each, i.e. 5 lakh bales higher than its previous month estimate. The estimated increase in production figures is mainly due to the realisation of higher yields, particularly in top cotton-growing state of Gujarat.

 

Of the increased estimate of 5 lakh bales, CAI estimates about 3 lakh bales to come from Gujarat, 1 lakh bales from Karnataka, 50,000 bales from Andhra Pradesh, and 25,000 bales each from the states of Madhya Pradesh and Tamil Nadu.

 

The Statistic Committee of the CAI, after reviewing the current cotton scenario, projected the total cotton supply up to May 31, 2018, at 378.50 lakh bales. This includes the opening stock of 30 lakh bales at the beginning of the season on October 1, 2017, the arrival of 340 lakh bales by May 31, and imports which the Committee estimated at 8.50 lakh bales by May end.

 

On the consumption side, the Committee estimated use of 216 lakh bales at an average of 27 Lakh bales per month during the 8-month period from October 2017 to May 2018. Export shipments are estimated at 62 lakh bales till May 31, 2018.

 

At the end of May 2018, cotton stock is estimated at 100.50 lakh bales, including 58 lakh bales with textile mills and 42.50 lakh bales estimated to be held with CCI and others (MNCs, traders, ginners, etc).

 

The projected yearly Balance Sheet for 2017-18 season, drawn by the CAI, estimates total cotton supply till end of the season i.e. up to September 30, 2018 at 410 lakh bales, including the opening stock of 30 lakh bales at the beginning of the season. The CAI has estimated domestic consumption for the season at 324 lakh bales while the exports for the season are estimated at 70 lakh bales. The carry-over stock at the end of the 2017-18 crop year is estimated at 16 lakh bales.

 

“Around 93 per cent of the total crop for the season has already arrived in the market by May 31, 2018,” said CAI president Atul Ganatra.

 

Source: http://www.fibre2fashion.com

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