CAI maintains 2017-18 cotton crop estimate at 365 lakh bales

The Cotton Association of India (CAI) has maintained its June estimate of the cotton crop production for the 2017-18 season (October-September) at 365 lakh bales, same as May.

Domestic consumption for the season is estimated at 324 lakh bales, while the exports are estimated to be at 70 lakh bales, a release said today.

The carry-over stock at the end of the season is estimated at 22 lakh bales, it added.

"The CAI has retained its cotton crop estimate for the ongoing crop year 2017-18 at 365 lakh bales, of 170 kg each, at the same level as in its estimate made in the previous month," it said.

The total supply is estimated at 394.45 lakh bales, which includes arrivals of 348.45 lakh bales up to June 30, imports the committee has estimated at 10 lakh bales and the opening stock at the beginning of the season, which has been revised from 30 lakh bales to 36 lakh bales.

Further, the CAI has estimated cotton consumption for the nine months (October 2017 to June 2018) at 243 lakh bales, which is 27 lakh bales per month, while the shipment of cotton till June 30 , has been estimated at 64 lakh bales.

The stock at the end of June is estimated at 87.45 lakh bales, including 51.85 lakh bales with textile mills, while the remaining 35.60 lakh bales are estimated to be held by the Cotton Corporation of India (CCI) and others including traders, ginners, etc.

The estimated total cotton supply up to September 30, 2018, is at 416 lakh bales, which includes opening stock of 36 lakh bales at the beginning of the season.