April 6, 2020 4:35:10 pm
The Cotton Association of India (CAI) has retained its cotton crop forecast for the 2019-20 season, beginning from October 1, 2019, at 354.50 lakh bales of 170 kgs each as in the previous estimate.
The total cotton supply estimated by the CAI during October 2019 to March 2020 was 327.53 lakh bales (170 kgs each) which consists of the arrivals of 283.03 lakh bales up to March 31, imports of 12.50 lakh bales and the opening stock estimated by the CAI at 32 lakh bales.
A committee has decided to meet in the first week of May 2020, to take stock of the situation arising on account of the unprecedented crisis of COVID-19 pandemic and consider changes, if any, to be made in the cotton balance sheet for the season, CAI said in a release here.
Further, the CAI has estimated cotton consumption during October 2019 to March 2020 at 154 lakh bales, while the exports has been estimated at 31 lakh bales up to March 31.
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Stock at the end of March is estimated at 142.53 lakh bales, including 34 lakh bales with textile mills and the remaining 108.53 lakh bales with Cotton Corporation of India (CCI) and others (MNCs, traders, ginners, among others).
Cotton supply up to September 30, 2020 was estimated at 411.50 lakh bales (the same level as estimated in the previous month).
Total cotton supply consists of the opening stock of 32 lakh bales at the beginning of the cotton season on October 1, 2019, crop for the season estimated at 354.50 lakh bales and imports estimated by the CAI at 25.00 lakh bales, which are lower by 7 lakh bales compared to the previous year’s estimate of 32 lakh bales.
Domestic consumption estimated by the CAI for the entire crop stood at 331 lakh bales, the same level as estimated by the Cotton Advisory Board in their meeting held on November 28, 2019.
The CAI has estimated exports for the season at 42 lakh bales, the same level as estimated in the previous year.
The carryover stock estimated at the end of the season stood at 38.50 lakh bales, CAI added.
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