CAI reduces cotton production estimate further by 7 lakh bales

New Delhi, Apr 10 (KNN) The Cotton Association of India (CAI) has reduced the crop estimate for Gujarat, Maharashtra, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu and Orissa.

The association has released its March estimate of the cotton crop for the season 2018-19 beginning from 1st October 2018.

The CAI has reduced the crop estimate for Gujarat by 1 lakh bales, Maharashtra by 80,000 bales, Telangana by 4 lakh  bales, Andhra Pradesh by 1 lakh bales and Karnataka by 75,000 bales whereas there is marginal increase of 50,000 bales in Tamil Nadu and 5,000 bales in the State of Orissa.

It estimated cotton crop for 2018-19 at 321 lakh bales of 170 kgs each which is lower by 7 lakh bales than its previous estimate of 328 lakh bales made during last month.

The main reason for reduction in cotton crop during this year is the scarcity of water in some states and the fact that farmers uprooted their cotton plants in about 70-80%  area without waiting for 3rd and 4th pickings.

Total cotton supply projected by the CAI during the period from October 2018 to March 2019 is 290.00 lakh bales of 170 kgs each which consists of the arrival of 255.83 lakh bales upto 31st March 2019, imports of 6.17 lakh bales upto 31st March 2019 and the opening stock at the beginning of the season at 28 lakh bales.

Further, it has estimated cotton consumption during the months of October 2018 to March 2019 at 158 lakh bales while the export shipment of cotton up to 31st March 2019 has been estimated at 39 lakh bales.

Stock at the end of March 2019 is estimated at 93 lakh bales including 45.85 lakh bales with textile mills and remaining 47.15 lakh bales with CCI and others (MNCs, Traders, Ginners, etc).