The projection for total cotton supply up to September 30, 2018 was 416.00 lakh bales which consists the arrival of 365.00 lakh bales up to September 30, 2018. The committee has projected the imports at 15.00 lakh bales and the opening stock at the beginning of the season as on October 1, 2017 has been estimated at 36 lakh bales.

Further, the committee has estimated cotton consumption for whole crop year (12 months) from October 2017 to September 2018 at 324 lakh bales per month. The stock at the end of September 2018 is estimated at 23.00 lakh bales including 18.00 lakh bales with textile mills while the remaining 5.00 lakh bales are estimated to be held by CCI and others (MNCs, traders, ginners, etc.).

For the ongoing season 2018-19, cotton crop size estimates has lowered to 348 lakh bales (of 170 kg each). Various factors responsible for the drop including unfavourable conditions due to drought-like situation in major production sites of Gujarat, Karnataka and Maharashtra, Atul Ganatra, president of the CAI said at a domestic conference in Aurangabad, hosted in association with the Maharashtra Cotton Ginners Association. (RR)

Fibre2Fashion News Desk – India