India exports 3.2 million bales of cotton in first quarter of cotton year 2019-20.

PUNE: India has exporter 3.2 million bales of cotton during the first quarter of the cotton year that began on October 1, said trade body Cotton Association of India (CAI), which expects the total exports til Septmber 2020 to hit 42 lakh bales.

"Cotton export shipments from 1st October 2019 to 31st December 2019 which have already been shipped are estimated at 10 lakh bales while balance 32 lakh bales are expected to be shipped during the period from 1st January 2020 to 30th September 2020. Total exports estimated during the entire season are 42 lakh bales," said CAI.

According to CAI, consumption by Indian spinning mills for 3 months i.e. from 1st October 2019 to 31st December 2019 is estimated at 78 lakh bales. Cotton stock held by mills in their godowns on 31st December 2019 is estimated at 30.89 lakh bales. CCI, MNCs, Ginners and MCX are estimated to have stock of about 37 lakh bales as on 31st December 2019 which is equal to about 39 lakh running bales. Thus, total stock held by spinning mills and stockists on 31st December 2019 is estimated at67.89 lakh bales of 170 kgs. each which is equal to about 72 lakh bales. Closing stock as on 30th September 2020 is estimated by the Committee at 30 lakh bales of 170 kgs. each.

There is no change in the projection of cotton export for the season and the same is retained at 42 lakh bales as estimated by the CAI previously. There is no change in the projection of import of cotton and the same is retained at 25 lakh bales as estimated by the CAI previously. The import figure is lower by 7.00 lakh bales compared to that estimated for the last year. " Shipment of imports from 1st October 2019 to 31st December 2019 which have reached Indian Ports are estimated at 6.50 lakh bales while balance 18.50 lakh bales are estimated to arrive Indian Ports during the period from 1st January 2020 to 30th September 2020 (total imports estimated during the entire season are 25 lakh bales)," the trade body said.

The yearly consumption is estimated by the CAI at 331 lakh bales i,e. same as estimated by the Cotton Advisory Board at its meeting held on 28th November 2019. Indian cotton arrivals during the months of October 2019 to December 2019 are estimated at 125.89 lakh bales.