Tuesday, October 20, 2020

Business

India's cotton crop estimates for 2019-20 raised to 360 bales

IANS | October 13, 2020 11:40 AM

NEW DELHI:The Cotton Association of India (CAI) has increased its cotton crop estimate for 2019-20 to 360 bales of 170 kg each (equivalent to 382.50 lakh running bales of 160 kg each) compared to its previous estimate of 354.50 lakh bales of 170 kg each (equivalent to 376.65 lakh running bales of 160 kg each).
The CAI on Monday released its September estimate of the cotton crop for the season 2019-20 beginning from October 1, 2019.
The cotton crop finalised by the CAI for the last year i.e., for the crop year 2018-19 was 312 lakh bales of 170 kg each (equivalent to 331.50 lakh running bales of 160 kg each).
The Crop Committee of the Association has estimated total cotton supply till end of the cotton season i.e. up to September 30, 2020 at 407.50 lakh bales of 170 kg each (equivalent to 433 lakh running bales of 160 kg each) which consists of the Opening Stock of 32 lakh bales of 170 kg each (equivalent to 34 lakh running bales of 160 kg each) at the beginning of the cotton season on October 1, 2019, crop for the season estimated at 360 lakh bales of 170 kg each (equivalent to 382.50 lakh running bales of 160 kg each) and imports estimated by the CAI at 15.50 lakh bales of 170 kg each (equivalent to 16.47 lakh running bales of 160 kg each).
The imports are estimated to be lower by 16.50 lakh bales of 170 kg each compared to the previous year's estimate of 32 lakh bales (equivalent to 34 lakh running bales of 160 kg each).
Domestic consumption for the entire crop year i.e. upto September 30, 2020 has been estimated at 250 lakh bales (equivalent to 265.63 lakh running bales of 160 kg each) i.e. at the same level as estimated by the CAI previously.
The CAI has retained its export estimate for the season at the same level as estimated by it previously i.e. at 50 lakh bales of 170 kg each (equivalent to 53.13 lakh running bales of 160 kg each) The carryover stock estimated at the end of the season is 107.50 lakh bales of 170 kg each (equivalent to 114.22 lakh running bales of 160 kg each).

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