Business

CAI Releases July Estimate For Cotton Crop

Cotton Association of India (CAI) has released its July estimate of the cotton crop for the season 2017-18 beginning from 1^st October 2017. The CAI has maintained its cotton crop estimate for the ongoing crop year 2017-18 at 365 lakh bales of 170 kgs. each i.e. at the same level as in the estimates made by it during the last two months.

The CAI has, however, revised the State-wise crop estimate for the North Zone compared to the estimate made during the last month, based on the arrival figures upto 31^st July 2018 reported by the respective States. In Punjab and Haryana, the crop estimates for the Season have been reduced by 2 lakh bales and 50,000 bales respectively compared to the estimate made during the last month.

However, the crop estimates for Upper Rajasthan and Lower Rajasthan have been increased by 1.00 lakh bales and 1.50 lakh bales respectively compared to the last month based on the arrival figures. Statements containing the state-wise estimate of the cotton crop and the Balance Sheet for the crop year 2017-18 with the corresponding data for the previous year are enclosed.

The CAI has projected total cotton supply upto 31^st July 2018 at 400.45 lakh bales which consists the arrival of 353.45 lakh bales upto 31^st July 2018, imports the Committee has estimated at 11 lakh bales and the opening stock of 36 lakh bales at the beginning of the season as on 1^st October 2017.

Further, the Committee has estimated cotton consumption for 10 months i.e. from October 2017 to July 2018 at 270 lakh bales @ 27 lakh bales per month while the shipment of cotton till 31^st July 2018 has been estimated at 67 lakh bales. The stock at the end of July 2018 is estimated at 63.45 lakh bales including 42.65 lakh bales with textile mills while the remaining 20.80 lakh bales are estimated to be held by CCI and others (MNCs, traders, ginners, etc.).

The projected yearly Balance Sheet for the Season 2017-18 drawn by the CAI has estimated total cotton supply till end of the season i.e. up to 30^th September 2018 at 416 lakh bales of 170 kgs. each which includes opening stock of 36 lakh bales at the beginning of the season. The CAI has estimated domestic consumption for the season at 324 lakh bales while the exports are estimated to be 70 lakh bales. The carry-over stock at the end of the 2017-18 season is estimated by the CAI at 22 lakh bales.