The CAI has estimated cotton crop for the ongoing 2017-18 season at 36.5 million bales of 170 kgs each, which is higher by 500,000 bales
MUMBAI, 12 June 2018: The CAI has estimated cotton crop for the ongoing 2017-18 season at 36.5 million bales of 170 kgs each, which is higher by 500,000 bales from its previous estimate – 300,000 bales in Gujarat, 100,000 bales in Karnataka, 50,000 bales in Andhra Pradesh & 25,000 bales each in the states of Madhya Pradesh & Tamil Nadu.
Cotton Association of India (CAI) has released its May estimate of the cotton crop for the season 2017-18 beginning from 1 October 2017.
This estimated increase in production figures is mainly due to the realization of higher yields more particularly in the State of Gujarat. Statements containing the state-wise estimate of the cotton crop and the Balance Sheet for the crop year 2017-18 with the corresponding data for the previous year are enclosed.
The Statistic Committee of the CAI, in its meeting held yesterday which was also attended by over 30 representative from various upcountry associations, MNCs, Ginners, Exporters, Importers, textile mills, etc, has reviewed the current cotton scenario.
The total cotton supply up to 31 May, 2018 has been projected at 37.8 million bales which consists of the opening stock of 3 million bales at the beginning of the season on 1 October, 2017, the arrival of 34 million bales up to 31 May, 2018 and imports which the Committee has estimated at 850,000 bales up to May end.
Further, the Committee has estimated cotton consumption for 8 months i.e. from October, 2017 to May, 2018 at 21.6 million bales at an average of 2.7 million bales per month while the export shipment till 31 May 2018 has been estimated at 6.2 million bales.
The stock at the end of May, 2018 is estimated at 10.05 million bales including 5.8 million bales with textile mills while the remaining 4.25 million bales are estimated to be held with CCI & others (MNCs, Traders, Ginners, etc).
The projected yearly Balance Sheet for the Season 2017-18 drawn by the CAI has estimated total cotton supply till end of the season i.e. upto 30 September 2018 at 41 million bales of 170 kgs. each including the opening stock of 3 million bales at the beginning of the season. The CAI has estimated domestic consumption for the season at 32.4 million bales while the exports for the season are estimated by the CAI at 70 lakh bales. The carry-over stock at the end of the 2017-18 crop year is estimated at 1.6 million bales.
It may be noted that the crop size of 36.5 million bales of 170 kgs. each is equal to 38.8 million running bales of 160 kgs. each and the estimated arrival of 34.0 million bales 170 kgs. each up to 31 May, 2018 is equal to 36.2 million running bales of 160 kgs. each. Around 93% of the total crop for the season has already arrived in the market up to 31 May, 2018.
Image credit: trustedclothes.com