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CAI retains 2017-18 cotton estimate at 375 lakh bales
03
Jan '18
In its December 2017 estimate of the cotton crop for the 2017-18 season beginning October 1, 2017, the Cotton Association of India (CAI) has maintained the forecast at 375 lakh bales, i.e. at the same level as in the previous estimate. The projected Balance Sheet drawn by the CAI estimates total cotton supply for the season at 425 lakh bales of 170 kg each.
 
The total cotton supply projected at 425 lakh bales includes the opening stock of 30 lakh bales at the beginning of the season and an estimated 20 lakh bales of imports for 2017-18 crop year.
 
The domestic consumption is estimated to be 320 lakh bales while CAI estimates exports for the season to be 55 lakh bales.
 
Upto end December 2017, CAI estimates cotton arrivals at 147.75 lakh bales as compared to arrival of 108 lakh bales upto December 31, 2016.
 
“Around 39 per cent of the total crop estimated for the year has already arrived in the market., and looking at the pace of arrivals this year, CAI is of the view that the projected crop of 375 lakh bales for 2017-18 crop year is very much achievable,” CAI president Atul S Ganatra said in a press release.
 
CAI’s estimate of 375 lakh bales of cotton crop is slightly lower than Cotton Advisory Board’s recent forecast of 377 lakh bales for the 2017-18 crop year. 
 
Central zone comprising the main cotton growing state of Gujarat is expected to contribute 213 lakh bales, while south zone and north zone are likely to contribute 100 lakh bales and 57 lakh bales, respectively, according to CAI. (RKS)

Fibre2Fashion News Desk – India


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