Categories: Business

CAI revises cotton output upwards to 354.5 lakh bales for 2019

Photo: COTTON CROP OUTPUT

CAI revises cotton output estimate

new Delhi. Industry association Cotton Association of India (CAI) estimates that India can export 50 lakh bales (170 kg in one lump) of cotton in the current cotton season 2019-20 (October-September) which is eight lakh bales i.e. 19.05 from last year Percentage will be higher. The Cotton Association, in its July month assessment released on Monday, increased the cotton production estimate by 19 lakh bales from the June month estimate to 354.50 lakh bales.

The increase in production has been due to Central India, which according to estimates may produce 1.3 million bales more than the previous estimate from Central India. There is an additional production of 3 lakh bales from the northern part, and an additional production of more than 3 lakh bales from the south. According to the revised estimates, the total production of cotton in the country in the current season will be 354.50 lakh bales, import 16 lakh bales and opening stock 32 lakh bales with total supply 402.50 lakh bales, while domestic consumption is 250 lakh bales, exports will be 50 lakh bales on September 30. At the end of the season on 2020, the remaining stock will remain 102.50 lakh bales.

Cotton Association of India President Atul Ganatra said that 102.50 lakh bales of outstanding stock is a record level so far. Never before has there been so much carryforward stock. He said that India's cotton is still the cheapest in the world, so its export demand remains and by the end of the season, exports can reach 5 million bales. However, the organization believes that due to the corona epidemic, domestic demand will be reduced by 30 lakh bales to 250 lakh bales.

This post was published on August 17, 2020 9:00 pm

Content Team

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