CAI retains 2017-18 cotton crop estimate at 365 lakh bales

CAI estimates the total cotton supply up to August 31, 2018 at 407.50 lakh bales, which includes the arrival of 358.00 lakh bales up to August 31, estimated imports at 13.50 lakh bales and the opening stock of 36 lakh bales at the beginning of the season as on October 1, 2017.

Further, the CAI has estimated cotton consumption for 11 months i.e. from October 2017 to August 2018 at 297 lakh bales, while the shipment of cotton till August 31, 2018 has been estimated at 69 lakh bales. 

The stock at the end of August 2018 is estimated at 41.50 lakh bales including 30.40 lakh bales with textile mills while the remaining 11.10 lakh bales are estimated to be held by CCI and others including MNCs, traders, ginners, etc.

The projected yearly Balance Sheet for the 2017-18 season drawn by the CAI has estimated total cotton supply till end of the season i.e. up to September 30, 2018 at 416 lakh bales of 170 kg each, including the opening stock of 36 lakh bales at the beginning of the season.

The CAI has estimated domestic consumption for the season at 324 lakh bales while the exports are estimated to be 70 lakh bales. Thus, the carry-over stock at the end of the 2017-18 season is estimated at 22 lakh bales. (RKS)

Fibre2Fashion News Desk – India