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Cotton crop estimated higher

 

As per the Cotton Association of India’s (CAI) May estimate of the crop for the season 2017-18 beginning October 1, 2017, it has estimated the cotton crop for the ongoing 2017-18 season at 365 lakh bales of 170 kg each, which is higher by 5 lakh bales from its previous estimate—3 lakh bales in Gujarat, 1 lakh bales in Karnataka, 50,000 bales in Andhra Pradesh and 25,000 bales each in the states of Madhya Pradesh and Tamil Nadu.

 

This estimated increase in production figures is mainly due to the realisation of higher yields, particularly in Gujarat.

 

The total cotton supply up to May 31, 2018 has been projected at 378.50 lakh bales which consists of the opening stock of 30 lakh bales at the beginning of the season on October 1, 2017, the arrival of 340 lakh bales up to May 31, 2018 and imports which the Committee has estimated at 8.50 lakh bales up to May end.

 

Further, the Committee has estimated cotton consumption for 8 months, i.e. from October 2017 to May 2018 at 216 lakh bales at an average of 27 lakh bales per month while the export shipment till May 31, 2018 has been estimated at 62 lakh bales. The stock at the end of May 2018 is estimated at 100.50 lakh bales, including 58 lakh bales with textile mills, while the remaining 42.50 lakh bales are estimated to be held with CCI and others (MNCs, traders, ginners, etc).

 

The projected yearly balance sheet for the season 2017-18 drawn by the CAI has estimated total cotton supply till the end of the season, i.e. up to September 30, 2018 at 410 lakh bales of 170 kg each, including the opening stock of 30 lakh bales at the beginning of the season. The CAI has estimated domestic consumption for the season at 324 lakh bales while exports for the season are estimated at 70 lakh bales. The carry-over stock at the end of the 2017-18 crop year is estimated at 16 lakh bales.

 

It may be noted that the crop size of 365 lakh bales of 170 kg each is equal to 388 lakh running bales of 160 kg each and the estimated arrival of 340 lakh bales of 170 kg each up to May 31, 2018 is equal to 362 lakh running bales of 160 kg each. Around 93 per cent of the total crop for the season has already arrived in the market up to May 31, 2018, said a release.

 

Source: Exim News Service - Mumbai, June 13

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