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India to produce 341 lakh bales cotton in 2016-17: CAI
22 Feb '17
1 min read
The Cotton Association of India (CAI) has maintained in its January projection that India will produce 341 lakh bales of cotton in 2016-17. It has also increased its estimation for cotton consumption in India this year from 290 lakh bales to 295 lakh bales. The projected balance sheet drawn by the CAI estimated total cotton supply at 405 lakh bales.
Considering that the domestic consumption of cotton in this season will be 295 lakh bales, total available surplus for the season works out to 110 lakh bales.
The pace of arrivals has started picking up lately and is now approaching 2 lakh bales a day as the farmers are realising better price for their produce, said the association in a press release.
The association estimates cotton exports to decline from 22 lakh bales in the last season to 19 lakh bales in the current season. (KD)
Fibre2Fashion News Desk – India
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