MUMBAI (Commoditiescontrol) - Cotton Association of India (CAI) has released its December -17 estimate of the cotton crop for the 2017-18 season beginning 1st October 2017. The CAI has retained its December estimate of the cotton crop for the 2017-18 crop year at 375 lakh bales i.e. at the same level as in the previous estimate. A statement containing the state-wise estimate of the cotton crop and the Balance Sheet for the cotton season 2017-18 with the corresponding data for the 2016-17 crop year is enclosed.
The projected Balance Sheet drawn by the CAI estimated total cotton supply for the season at 425 lakh bales of 170 kgs. each including the opening stock of 30 lakh bales at the beginning of the season and the imports which the CAI estimates at 20 lakh bales for 2017-18 crop year. The domestic consumption is estimated to be 320 lakh bales while CAI estimates exports for the season to be 55 lakh bales.
As per the data received from various sources, the CAI estimates cotton arrivals upto end December 2017 at 147.75 lakh bales as compared to 108 lakh bales arrived upto 31st December 2016. About 39% of the total crop estimated for the year has already arrived in the market. Looking to the pace of arrivals this year, CAI is of the view that the projected crop of 375 lakh bales for 2017-18 crop years is very much achievable.
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(By Commoditiescontrol Bureau; +91-22-40015533)
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