MUMBAI (Commoditiescontrol) - The Cotton Advisory Board (CAB) in its latest release further slashed India’s 2015-16 cotton crop output estimate to 352 (170kgs each) lakh bales against its previous estimate of 365 lakh bales.
Textile Commissioner, Kavita Gupta attributed the 3.6 percent drop in production estimate to the first back-to-back drought in the country, hitting productivity.
Consumption also has been further lowered to 310 lakh bales compared to 323 lakh bales.
Closing stocks are seen at 35 lakh bales compared to 52 lakh bales year ago, CAB forecasts.
Opening stocks for 2015-16 pegged at around 52 lakh bales, while imports are seen at 11 lakh bales and exports seen at 70 lakh bales.
Country's exports are likely to rise in the current season due to improved demand from Pakistan, the Commissioner added.
Production in Punjab has been lowered to 9 lakh bales for 2015-16 compared to 12 lakh bales in 2014-15. CAB had estimated the state's output at 11 lakh bales in its first estimate for 2015-16.
Output in Gujarat has been slashed to 101 lakh bales compared to 108 lakh bales last year and 105 lakh bales estimated in the first estimate.
The body has estimated output in Karnataka at 20 lakh bales for the season compared to 31.5 lakh bales in 2014-15. In the first estimate, CAB had pegged state's output at 24 lakh bales.
State-wise production estimate by CAB
(By Commoditiescontrol Bureau; +91-22-40015522)
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