The CAI, a representative of cotton traders, has placed the cotton crop for this season at 341 lakh bales of 170 kg each, which is 1 per cent more than last year’s 337.75 lakh bales.
The body also expects the cotton arrival to take a hit this season as farmers are holding back seed cotton.
“The arrivals of cotton during the ongoing 2016-17 crop year are estimated to be lower than those up to the same period last year due to holding back of seed cotton by farmers,” said the association in a statement.
However, while speaking to Fibre2Fashion, MM Chockalingam, CMD(I/C) of CCI, said that due to above normal rains and favourable agro-climatic conditions, it is expected that yield will be better in comparison to previous year and production may increase by about 4 per cent to 351 lakh bales in comparison to 338 lakh bales of cotton season 2015-16.
“Total cotton consumption in the country is expected to increase to 313 lakh bales as against 312 lakh bales during the previous year,” added Chockalingam. (KD)
Fibre2Fashion News Desk – India