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CAI retains its cotton crop estimates at 315 lakh bales

Press Trust of India  |  Mumbai 

The Cotton Association of India

has retained its cotton production estimate at 315 lakh bales in its latest forecast for the 2018-19 season.

In the last cotton season, total output stood at 365 lakh bales, the association said Monday. The cotton season runs from October to September.

CAI in its forecast for May said the total cotton supply from October 2018 to May 2019 was 325 lakh bales of 170 kg each.

The total supply includes arrivals of 287.72 lakh bales up to May 31, 2019, imports of 9.28 lakh bales and the opening stocks of 28 lakh bales at the beginning of the season.

Further, the CAI noted that cotton consumption during October 2018 to May 2019 stood at 209 lakh bales.

The export shipments till May 31 is estimated at 44 lakh bales.

Stocks at the end of May 2019 are estimated at 72 lakh bales, including 32.68 lakh bales with textile mills and remaining 39.32 lakh bales with the Cotton Corporation of India (CCI), MNCs and others (MNCs, traders, ginners).

The total cotton supply till end of the cotton season-- up to September 30, 2019 -- is estimated at 374 lakh bales, which includes the opening stock of 28 lakh bales at the beginning of the season. Imports are estimated at 31 lakh bales.

Imports are estimated to be higher compared to the previous year's import estimate of 15 lakh bales.

CAI estimated domestic consumption for the entire crop year at 315 lakh bales. Exports are estimated at 46 lakh bales for the season. The export numbers are lower by 23 lakh bales compared to the previous year's exports estimate of 69 lakh bales.

The carryover stock estimated at the end of the season is estimated at 13 lakh bales.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 03 2019. 17:05 IST