MUMBAI (Commoditiescontrol) - India is likely to produce 29.3 million bales cotton (480 lb) in 2015-16 season from 12 million acres, as per USDA’s Global Agriculture Information Network (GAIN) Report.
Farmers in India may find it difficult to decide whether to reduce or enhance cotton acreage in the marketing year (MY) 2015-16 as prices of other competing crops in various states have dropped or are on the verge of witnessing a sharp fall in times to come. Farm-gate prices of various competing crops such as paddy, guar, soybeans, maize, and sorghum have fallen on average by 30 per cent since the start of the August 2014 marketing season.
USDA has forecast cotton consumption at 24.55 million bales, higher than 24,000 million bales estimated in the current season, as export demand for cotton yarn and cotton lint recovers and markets diversify.
India’s cotton exports for 2015-16 are forecast at 5.5 million bales. Government procurement has reached 7 million bales and disposal of these stocks is still a cause of concern.
Assuming a normal monsoon, overall yields for MY 2015-16 are forecast at 531 kg per hectare, the report stated. This is higher than MY 2014-15 yields of 518 kg per hectare when crop planting was delayed by unseasonal rains.
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