The Cotton Association of India (CAI) has trimmed its estimates for cotton crop for the season 2018-19, beginning from October 1, 2018.
The CAI has estimated cotton crop for 2018-19 season at 335 lakh bales of 170 kg each which is lower by 5.25 lakh bales than its previous estimate of 340.25 lakh bales made during last month, down by nearly 8%. CAI has reduced the crop estimate for Gujarat, Maharashtra and Telangana by 1.50 lakh bales, 2 lakh bales and 2 lakh bales, respectively. The cotton body pointed out farmers had uprooted its plants in about 70-80% cotton area due to moisture deficiency from deficient rains. As a result, there is no scope for third and fourth pickings, Atul Ganatra, president, CAI said. The crop estimate has been reduced from CAI’s earlier estimate of 340.25 lakh bales.
The total cotton supply projected by CAI during October-December 2018 at 142.50 lakh bales consists of the arrival of 115.97 lakh bales up to December 31,2018, imports of 3.53 lakh bales up to December 31,2018, and the opening stock at the beginning of the season estimated by the Committee at 23 lakh bales. Further, the CAI has estimated cotton consumption during October 2018 till December at 80 lakh bales while the export shipment up to December 31, 2018, has been estimated at 17 lakh bales.
Stock at the end of December 2018 is estimated by the CAI at 45.50 lakh bales, including 30 lakh bales with textile mills and the remaining 15.50 lakh bales with Cotton Corporation Of India and others, including MNCs, traders, ginners.
Domestic consumption is estimated at 320 lakh bales, which is lower by 4 lakh bales compared to the consumption figure estimated during the last month. Exports for the season 2018-19 is expected at 51 lakh bales, which is lower by 18 lakh bales, compared to the export of 69 lakh bales estimated last year. Carry-over stock at the end of the 2018-19 season was estimated at 14 lakh bales.
The CAI has also projected annual balance sheet for the cotton season 2018-19 wherein total cotton supply till end of the cotton season, which is up to September 30,2019, has been estimated at 385 lakh bales of 170 kg each consisting of the opening stock of 23 lakh bales at the beginning of the season, cotton crop for the season at 335 lakh bales and imports estimated by the CAI at 27 lakh bales, which are higher by 12 lakh bales as compared to the previous year’s import estimated at 15 lakh bales.
Source: financialexpress.comThe Cotton Association of India (CAI) has trimmed its estimates for cotton crop for the season 2018-19, beginning from October 1, 2018.
The CAI has estimated cotton crop for 2018-19 season at 335 lakh bales of 170 kg each which is lower by 5.25 lakh bales than its previous estimate of 340.25 lakh bales made during last month, down by nearly 8%. CAI has reduced the crop estimate for Gujarat, Maharashtra and Telangana by 1.50 lakh bales, 2 lakh bales and 2 lakh bales, respectively. The cotton body pointed out farmers had uprooted its plants in about 70-80% cotton area due to moisture deficiency from deficient rains. As a result, there is no scope for third and fourth pickings, Atul Ganatra, president, CAI said. The crop estimate has been reduced from CAI’s earlier estimate of 340.25 lakh bales.
The total cotton supply projected by CAI during October-December 2018 at 142.50 lakh bales consists of the arrival of 115.97 lakh bales up to December 31,2018, imports of 3.53 lakh bales up to December 31,2018, and the opening stock at the beginning of the season estimated by the Committee at 23 lakh bales. Further, the CAI has estimated cotton consumption during October 2018 till December at 80 lakh bales while the export shipment up to December 31, 2018, has been estimated at 17 lakh bales.
Stock at the end of December 2018 is estimated by the CAI at 45.50 lakh bales, including 30 lakh bales with textile mills and the remaining 15.50 lakh bales with Cotton Corporation Of India and others, including MNCs, traders, ginners.
Domestic consumption is estimated at 320 lakh bales, which is lower by 4 lakh bales compared to the consumption figure estimated during the last month. Exports for the season 2018-19 is expected at 51 lakh bales, which is lower by 18 lakh bales, compared to the export of 69 lakh bales estimated last year. Carry-over stock at the end of the 2018-19 season was estimated at 14 lakh bales.
The CAI has also projected annual balance sheet for the cotton season 2018-19 wherein total cotton supply till end of the cotton season, which is up to September 30,2019, has been estimated at 385 lakh bales of 170 kg each consisting of the opening stock of 23 lakh bales at the beginning of the season, cotton crop for the season at 335 lakh bales and imports estimated by the CAI at 27 lakh bales, which are higher by 12 lakh bales as compared to the previous year’s import estimated at 15 lakh bales.
Source: financialexpress.com