For the crop marketing year ending October 2010, India's cotton production is likely to touch about 30.55 million bales, which is almost 1.5 lakh bales (1 bale = 170 kg) over the last month's figures.
During 2009-10, atleast 8.2 million cotton bales have been exported and the remaining stocks carried forward to next year is likely to be about 5.5 million cotton bales, announced the Cotton Association of India (CAI).
As per CAI's balance sheet for the 2009-10 year, the overall supply of cotton is estimated at 38.7 million bales, whereas the local requirement remains constant at 25 million bales, leaving behind excess of 13.7 million bales.
For 2009-10, Gujarat is expected to produce 10.2 million cotton bales as against 0.9 million bales in 2008-09. Also, Maharashtra's estimated cotton crop production is at 6.45 million bales as compared to 6.4 million bales of last year. For Andhra Pradesh the estimated figures are 5.35 million bales for 2009-10, as compared to 5.22 million bales of last year.
CAI is also dejected with the government's decision for dragging exports of raw cotton under a licensing regime and therefore, has requested the government to re-shift raw cotton exports back under the free-list.
In addition, CAI has also urged the government to issue licenses to cotton exporters for all the export contracts that have been registered with the office of the textile commissioner before April 19, 2010.
Fibre2Fashion News Desk - India