Cotton Association of India (CAI) released its February estimate of the cotton crop for the 2016-17 crop year, beginning from 1st October 2016. The CAI has retained its cotton crop estimate for the ongoing cotton season at the same level as in the last month i.e. 34.1 million bales of 170 kgs. each.
The projected Balance Sheet drawn by the CAI estimated total cotton supply for the season at 40.70 million bales while the domestic consumption is estimated at 29.50 million bales thus leaving an available surplus of 11.20 million bales.
The farmers continue to realise better price for their produce since the cotton prices have remained firm. The cotton arrivals are in full swing now and gap of arrivals as compared to last year has narrowed down considerably in the preceding period.