MUMBAI (Commoditiescontrol) - The Cotton Association of India (CAI) has trimmed cotton crop outlook for 2018-19 season at 340.25 lakh bales (170 kg each), down by 3 lakh bales from its previous estimate of 343.25 lakh bales made during last month.
The CAI has increased the crop estimate for Haryana by 1 lakh bales, Upper Rajasthan, Lower Rajasthan and Andhra Pradesh by 50,000 bales each than compared to its previous estimate, while there is a reduction in the crop estimated for Gujarat by 3 lakh bales, Maharashtra by 1 lakh bales and Telangana by 1.50 lakh bales compared to the previous estimate due to unfavourable weather conditions.
The CAI has projected total cotton supply during the months of October and November 2018 at 95 lakh bales which consists of the arrival of 70 lakh bales up to November 30, 2018, imports of 2 lakh bales up to November 30, 2018 and the opening stock at the beginning of the season as on 1st October 2018 which the Committee has estimated at 23 lakh bales.
Further, the Committee has estimated cotton consumption during the months of October and November 2018 at 54 lakh bales while the export shipment of cotton during November 2018 has been estimated at 10 lakh bales.
The stock at the end of November 2018 is estimated at 31 lakh bales including 27 lakh bales with textile mills and the remaining 4 lakh bales are estimated to be held by CCI and others (MNCs, traders, ginners, etc.).
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(By Commoditiescontrol Bureau; +91-22-40015533)
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