Business

Cotton Arrivals In October Recorded At 31.12 Lakh Bales

According to The Cotton Association of India (CAI), cotton arrivals in the first month of the season stood at 31.12 lakh bales (170 kg each), up by about 15 % from 27.16 lakh bales recorded in the same month last year. The organisation has retained its earlier projection of crop yield for the season beginning October 1, 2021, at 360.13 lakh bales, up by 7 lakh bales from 353 lakh bales estimated for the previous year. During October, the total cotton supply, including the arrivals of 31.12 lakh bales, is estimated at 107.12 lakh. It includes imports of 1 lakh bales and also the opening stock of 75 lakh on October 1. On the other hand, the CAI has estimated cotton consumption during October at 27.91 lakh bales with export shipments of 4 lakh. Stocks held by the Cotton Corporation of India (CCI), Maharashtra Cotton Federation, multinationals, ginners, traders and exchanges are estimated at about 29 lakh bales. Thus, the total stock held by these bodies is estimated at 75.21 lakh bales. The cotton stock held by mills in their godowns is estimated at 46.21 lakh bales and the mills have on an average 50 days’ stock in their godowns, the CAI noted in its monthly arrivals and crop assessment statement.