Feb cotton output estimated at 345 lakh bales: CAI

The cotton output in February is estimated at 345 lakh bales, down from 382.75 lakh bales in the same period last year, an industry body said.
The projected balance sheet drawn by the Cotton Association of India (CAI) estimated total cotton supply for the 2015-16 season (which began on October 1 last year) at 432.60 lakh bales.
The domestic consumption is estimated at 304 lakh bales, thus leaving a surplus of 128.60 lakh bales, it said.
The arrivals of cotton during the ongoing season are not matching up with the figures of last year, it said.
The arrivals during 2015-16 season (up to February-end) are estimated at 245 lakh bales as against 276.25 lakh bales in the same period last year.

This reduction in the arrivals indicates a lower crop, it said.
If this trend does not improve in the coming months, the estimate of cotton crop for the 2015-16 season will have to be lowered further, the release said.