The Cotton Association of India (CAI) has estimated cotton crop for the 2018-19 season at 340.25 lakh bales (of 170 kg each). This is lower by 3 lakh bales than its previous estimate of 343.25 lakh bales made during last month.
CAI, which has released its November estimate of the cotton crop for the season 2018-19, beginning from October 1, 2018 has increased the crop estimate for Haryana by 1 lakh bales. For upper Rajasthan, lower Rajasthan and Andhra Pradesh, the estimate has been increased by 50,000 bales each than compared to its previous estimate. There is a reduction in the crop estimate 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 a total cotton supply during the months of October and November at 95 lakh bales, which consists of arrivals of 70 lakh bales upto November 30, 2018. Imports are around 2 lakh bales upto November 30 and the opening stock at the beginning of the season has been put at 23 lakh bales.
The estimate of cotton consumption during the months of October and November is 54 lakh bales while the export shipment of cotton upto November 30 has been estimated at 10 lakh bales. The stock at the end of November 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.), a statement issued by CAI said.
The projected annual balance sheet for the season 2018-19 drawn by the CAI has estimated total cotton supply, till end of the season upto September 30, 2019, at 390.25 lakh bales. This includes opening stock of 23 lakh bales, cotton crop for the season at 340.25 lakh bales and imports of 27 lakh bales. The imports are are estimated to be higher by 12 lakh bales compared to the figure of 15 lakh bales estimated for the 2017-18 crop year.
The CAI has estimated domestic consumption for the season at 324 lakh bales while the exports are estimated to be 53 lakh bales which are estimated to be lower by 16 lakh bales compared 69 lakh bales during the last year. The carry-over stock at the end of the 2018-19 season is estimated by the CAI at 13.25 lakh bales.
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Source: Financial Express