India : CAI downwardly revises 2015-16 crop to 362 lakh bales

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CAI downwardly revises 2015-16 crop to 362 lakh bales

02
Jan '16

The Cotton Association of India (CAI) has in its latest estimate downwardly revised 2015-16 cotton crop to 362 lakh bales from its earlier estimate of 370.5 lakh bales of 170 kg each.

For cotton season 2014-15 that ended on September 30, 2015, India's cotton production stood at 382.75 lakh bales, according to the CAI.

In northern zone, the total cotton crop during this season is pegged at 43 lakh bales, compared to previous season's 53.50 lakh bales.

Cotton output in the southern zone comprising Tamil Nadu, Andhra Pradesh, Telangana and Karnataka is forecast at 111 lakh bales, down seven per cent from 2014-15 production of 119 lakh bales.

In the central zone, which includes major cotton producing states of Gujarat and Maharashtra, production is likely to fall to 201 lakh bales, as against previous season's 204 lakh bales, CAI statement said.

“The reduction in the consumption of cotton in India during the crop year 2015-16 is expected to offset decrease in cotton production to some extent,” the statement said.

The projected balance sheet prepared by the CAI estimates total cotton supply for 2015-16 at 454.65 lakh bales, while domestic consumption is pegged at 318 lakh bales, thus resulting in surplus of 136.65 lakh bales.

However, cotton consumption by textile mills is expected to remain at previous season's level of 278 lakh bales. (RKS)

Fibre2Fashion News Desk – India

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