CAI retains 2017-18 cotton crop estimate at 365 lakh bales

03 Jul '18

2 min read

The Cotton Association of India (CAI) has retained its cotton crop estimate for the ongoing crop year 2017-18 at 365 lakh bales of 170 kg each, i.e. at the same level as in its estimate made in the previous month. The stock at the end of June 2018 is pegged at 87.45 lakh bales including 51.85 lakh bales with textile mills and 35.60 lakh bales with others.

In its June estimate of the cotton crop for the 2017-18 season beginning from October 1, 2017, the CAI has projected total cotton supply up to June 30, 2018 at 394.45 lakh bales. The cotton supply includes arrival of 348.45 lakh bales up to June 30, 2018, estimated imports of 10 lakh bales and the opening stock of 36 lakh bales at the beginning of the season as on October 1, 2017.

CAI revised opening stock of the season from 30 lakh bales to 36 lakh bales based on the discussions held at the meeting of the Sub-committee constituted by the Cotton Advisory Board (CAB) held on June 14, 2018.

Further, the CAI has estimated cotton consumption for 9 months i.e. from October 2017 to June 2018 at 243 lakh bales @ 27 lakh bales per month. The shipment of cotton till June 30, 2018 has been estimated at 64 lakh bales. The stock at the end of June 2018 is estimated at 87.45 lakh bales including 51.85 lakh bales with textile mills while the remaining 35.60 lakh bales are estimated to be held by CCI and others (MNCs, traders, ginners, etc).

The projected yearly Balance Sheet for the 2017-18 drawn by the CAI has estimated total cotton supply till end of the season i.e. up to September 30, 2018 at 416 lakh bales of 170 kg each, which includes opening stock of 36 lakh bales at the beginning of the season.

The CAI has estimated domestic consumption for the season at 324 lakh bales while the exports are estimated to be 70 lakh bales. The carry-over stock at the end of the 2017-18 season is estimated by the CAI at 22 lakh bales. (RKS)

Fibre2Fashion News Desk – India

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