CAI lowers cotton crop estimate to 31.5 mn bales for current season

Cotton Association of India reduced its estimate for the cotton crop output for the current season beginning October 2021 to 315.32 lakh bales of 170 kg each

Cotton

Press Trust of India Mumbai
Cotton Association of India (CAI) on Saturday reduced its estimate for the cotton crop output for the current season beginning October 2021 to 315.32 lakh bales of 170 kg each, 8.31 lakh bales lower from its previous projection.
In the year-ago season (2020-21), the country's total cotton production stood at 353 lakh bales, CAI (Cotton Association of India) said in its latest estimate for the month of May this year.
Giving state-wise estimates, CAI said the production in Gujarat is projected at 79.75 lakh bales for the 2021-22 season. Telangana is estimated to produce 35.40 lakh bales, while the outputs in Maharashtra and Karnataka are estimated at 77.50 lakh bales and 20.25 lakh bales, respectively.
Meanwhile, the total cotton supply for October 2021 to May 2022 is now estimated at 367.22 lakh bales, which includes the total arrivals of 288.38 lakh bales, imports of 7 lakh bales and the opening stock of 71.84 lakh bales.
Further, CAI estimated cotton consumption for October 2021 to May 2022 at 225 lakh bales while the exports up to May 31, 2022 are projected at 38 lakh bales.
Stock at the end of May is estimated at 104.22 lakh bales, including 70 lakh bales with textile mills and the remaining 34.22 lakh bales with the Cotton Corporation of India (CCI), Maharashtra Federation and others (multinational companies, traders, ginners, MCX, among others).
The CAI Crop Committee has estimated the total cotton supply till end of the cotton season 2021-22, that is up to September 30, 2022 at 402.16 lakh bales, which is 11.47 lakh bales less compared to 413.63 lakh bales estimated previously.
The total cotton supply consists of the opening stock of 71.84 lakh bales at the beginning of the season, crop for the season estimated at 315.32 lakh bales and the imports estimated at 15 lakh bales, it said.
The domestic consumption is now estimated at 315 lakh bales, while the exports for the season have been estimated at 40 lakh bales, CAI said.
The export estimate for the previous cotton season 2020-21 was 78 lakh bales.
The carry-over stock, which was earlier estimated at 53.63 lakh bales, is now estimated at 47.16 lakh bales, CAI added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 19 2022 | 7:29 AM IST

Explore News