CAI retains 2018-19 cotton estimate at 312 lakh bales

For the Northern Zone, the CAI has maintained its cotton crop estimate at the same level as in its previous month’s estimate i.e. at 59 lakh bales. However, there is a reduction of 10,000 bales in the cotton crop estimate for Punjab and an increase of 10,000 bales in the cotton crop estimate for Lower Rajasthan.

Similarly, CAI has maintained cotton crop estimate for the Central Zone at the same level as in its previous month estimate i.e. at 180.68 lakh bales although there is an increase of 50,000 bales in the cotton crop estimate for Gujarat State and a reduction of 25,000 bales each in the cotton crop estimate of Maharashtra and Madhya Pradesh. There is no change in the cotton crop estimates of the remaining states.  

The yearly balance sheet projected by the CAI estimates total cotton supply till end of the cotton season i.e. up to September 30, 2019, at 374 lakh bales of 170 kg each, which is lower by 2 lakh bales compared to the cotton supply estimated by the CAI in the previous month. The cotton supply estimate includes opening stock of 33 lakh bales at the beginning of the cotton season and imports estimated by the CAI at 29 lakh bales, which are lower by 2 lakh bales compared to the estimate of 31 lakh bales made in the previous month and higher by 14 lakh bales compared to the previous year’s estimate at 15 lakh bales.  CAI has lowered its import estimate for the season in view of actual shipments reaching Indian ports being lower than estimated previously.

Domestic consumption estimated by the CAI for the entire crop year i.e. up to September 30, 2019 is 315 lakh bales. The carryover stock estimated at the end of the season is 15 lakh bales. (RKS)

Fibre2Fashion News Desk – India