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“The main reason for lower crop is that in the Southern Zone farmers have uprooted their cotton plants due to moisture deficiency as a result of which there is no scope for 3rd and 4th pickings,” CAI president Atul S Ganatra said in a press release.
In its January 2019 estimate, CAI has reduced the crop estimate for Telangana by 2.50 lakh bales, Andhra Pradesh by 50,000 bales and Karnataka by 2 lakh bales.
The total cotton supply projected by the CAI during the months of October 2018 to January 2019 is 198.80 lakh bales, which consists of the arrival of 170.32 lakh bales up to January 31, 2019, imports of 5.48 lakh bales up to January 31, 2019 and the opening stock at the beginning of the season estimated at 23 lakh bales.
Further, the CAI has estimated cotton consumption during the months of October 2018 to January 2019 at 105.34 lakh bales, while the export shipment of cotton up to January 31, 2019 has been estimated at 24 lakh bales.
Stock at the end of January 2019 is estimated by the CAI at 69.46 lakh bales including 39 lakh bales with textile mills and the remaining 30.46 lakh bales with CCI and others (MNCs, traders, ginners, etc).
The CAI has also projected yearly Balance Sheet for the cotton season 2018-19 wherein total cotton supply till end of the cotton season i.e. up to September 30, 2019 has been estimated at 380 lakh bales of 170 kg each consisting of the opening stock of 23 lakh bales at the beginning of the season, cotton crop for the season estimated at 330 lakh bales and imports estimated by the CAI at 27 lakh bales, which are higher by 12 lakh bales compared to the previous year’s import estimated at 15 lakh bales.
The CAI has estimated domestic consumption of 316 lakh bales, which is lower by 4 lakh bales compared to the consumption figure estimated during the last month.
The estimated exports for the season 2018-19 are 50 lakh bales, which are lower by 19 lakh bales compared to the export of 69 lakh bales estimated during the last year.
The carry-over stock at the end of the 2018-19 season is estimated by the CAI at 14 lakh bales. (RKS)
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