CAI further lowers 2017-18 cotton crop to 360 lakh bales

The projected Balance Sheet drawn by the CAI for 2017-18 crop year beginning October 1, 2017 estimates total cotton supply at 410 lakh bales, which includes the opening stock of 30 lakh bales at the beginning of the season and the imports which the CAI has retained at 20 lakh bales as in the previous month.

The CAI estimates domestic consumption at 324 lakh bales while the exports for the season are predicted at 65 lakh bales which is higher by 5 lakh bales than the CAI’s estimate of the previous month. CAI has increased its cotton exports projection as cotton export demand has picked up due to the US-China trade war.

As a result, the carry-over stock at the end of 2017-18 season is estimated at 21 lakh bales, which is lower by 1 lakh bales than the CAI’s earlier estimate made last month.

The CAI estimates cotton arrivals up to March 31, 2018 at 287 lakh bales based on the data received by it from upcountry associations and various other trade sources. (RKS)

Fibre2Fashion News Desk – India