Mumbai: The Cotton Association of India (CAI) on Thursday lowered its January estimate of the cotton crop by 5 lakh bales than its previous estimate to 330 lakh bales (of 170 kgs each) for the 2018-19 season, beginning from 1 October, 2018.
The main reason for the decline in the estimates of the crop is mainly due to farmers in the southern zones, including Andhra Pradesh, Karnataka and Telengana, uprooting their cotton plants following moisture deficiency which have left no scope for no third or fourth pickings, CAI said in a release here.
Earlier, in the December estimate, CAI had projected 335 lakh bales. The CAI has reduced the crop estimates for Telangana
by 2.50 lakh bales to 45 lakh bales, Andhra Pradesh by 50,000 bales to 16 lakh bales and Karnataka by 2 lakh bales to 15
The total cotton supply is projected October 2018 to January 2019 is 198.80 lakh bales, which consists of the arrival of 170.32 lakh bales, imports of 5.48 lakh bales up to 31 January, 2019 and the opening stock at the beginning of the season estimated at 23 lakh bales.
Further, the CAI has estimated cotton consumption during October 2018 to January 2019 at 105.34 lakh bales while the export shipment of cotton up to 31 January, 2019 has been estimated at 24 lakh bales.
Stock at the end of January is estimated at 69.46 lakh bales, including 39 lakh bales with textile mills and the remaining 30.46 lakh bales with Cotton Corporation of India (CCI) and others (MNCs, traders, ginners among others).
The total cotton supply till end of the cotton season, that is up to 30 September, 2019 has been estimated at 380 lakh bales, which consists of the opening stock of 23 lakh bales at the beginning of the season, cotton crop for the season at 330 lakh bales and imports estimated at 27 lakh bales.
Imports are estimated to be higher by 12 lakh bales as compared to the previous year's import estimated at 15 lakh bales.
The CAI has estimated domestic consumption of 316 lakh bales, which is lower by 4 lakh bales compared to the consumption figure estimated during the last month, while the exports estimated for the season 2018-19 is at 50 lakh bales, which are lower by 19 lakh bales compared to the export of 69 lakh bales estimated during the last year.
The carry-over stock at the end of the 2018-19 season is estimated at 14 lakh bales.
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Updated Date: Feb 07, 2019 18:58:31 IST