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CAI retains cotton crop estimate at 365 lakh bales for 2017-18

11 Sep 2018 Evaluate

The Cotton Association of India (CAI) has retained its August cotton crop estimate at 365 lakh bales, 170 kg each for the ongoing crop year 2017-18 at the same level as its estimate made the previous month. Besides, it estimated domestic consumption for the season at 324 lakh bales, while the exports are estimated to be 70 lakh bales.

The Association, which has released its August estimate of the cotton crop for the season 2017-18 beginning from October 1, 2017 has projected that the total cotton supply up to August 31, was at 407.50 lakh bales, which consists the arrival of 358 lakh bales up to August 31, imports at 13.50 lakh bales and the opening stock at the beginning of the season as October 1, 2017 which was estimated at 36 lakh bales. It further estimated cotton consumption for 11 months, from October 2017 to August 2018 at 297 lakh bales, while the shipment of cotton till August 31 2018 has been estimated at 69 lakh bales.

CAI said the stock at the end of August is estimated at 41.50 lakh bales, including 30.40 lakh bales with textile mills while the remaining 11.10 lakh bales are estimated to be held by Cotton Corporation of India (CCI) and others including MNCs, traders, ginners, among others. It has estimated the total cotton supply till end of the season up to September 30, at 416 lakh bales, which includes opening stock of 36 lakh bales at the beginning of the season. It estimated the carry-over stock at the end of the 2017-18 season at 22 lakh bales.

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