In its latest estimates, the Cotton Advisory Board (CAB) has reduced its cotton output estimates by five percent, from that made on January 6.
In its estimates made on January 6, the CAB had anticipated cotton output at 32.9 million bales (1 bale = 170 kg), which has now been scaled down to 31.2 million bales.
Informing about the crop output, Textile Commissioner, Mr AB Joshi said, “We are shrinking production forecast due to low arrivals in this season”.
The main shortfall has been attributed to the Central Zone, wherein, output estimates have fallen to 20.1 million bales as against 21.3 million bales in the previous forecast.
Maharashtra recorded maximum decline in output at 8.2 million bales, against 9.2 million bales in the previous estimate. Until Friday, total cotton arrivals reported were 22.74 million bales.
Total carryover stocks for the next season are likely to decline to 2.75 million bales, down by 1.25 million bales from guidelines of the Textile Ministry, as a result of new estimate.
Fibre2fashion News Desk - India
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