CAI lowers 2017-18 cotton production estimate by 2 lakh tonnes
PUNE: Cotton Association of India has released its March estimate of the 2017-18 crop year beginning from 1st October 2017-18. In this latest estimate, the CAI has estimated cotton crop for the ongoing 2017-18 season at 360 lakh bales of 170 kgs. each, which is lower by 2 lakh bales – one lakh bales each in the states of Maharashtra and Karnataka than its previous estimate of 362 lakh bales made in the month of March 2018.
The projected Balance Sheet drawn by the CAI has estimated total cotton supply for the season at 410 lakh bales of 170 kgs. each which includes the opening stock of 30 lakh bales at the beginning of the season and the imports which the CAI has retained at 20 lakh bales as in the previous month.
The CAI has estimated domestic consumption at 324 lakh bales while the exports for the Season are estimated at 65 lakh bales which is higher by 5 lakh bales than the CAI’s estimate of the previous month as the country is now witnessing a good export demand.
The carry-over stock at the end of 2017-18 season is estimated by the Association at 21 lakh bales, which is lower by 1 lakh bales of 170 kgs. each. than the CAI ‘s earlier estimate made in the last month.
The CAI estimates the cotton arrivals upto 31st March 2018 at 287 lakh bales as per the data received by it from upcountry associations and various other trade sources.
Source: The Economic Times, India Saturday, 14 April 2018