Cotton season 2014-15 one of the highest closing stock in the history: CAI
Updated: Sep 30, 2015 01:03:52pm
Mumbai, Sept 30 (KNN) India will carry one of the largest closing stocks of cotton in its history when the new season begins on Thursday, said industry body Cotton Association of India (CAI).
Releasing its second estimate for the cotton season 2015-16 beginning at October 1, 2015, CAI lowered its estimate for the cotton season 2015-16 and placed the same at 377.00 lakh bales of 170 kgs each.
“The projected Balance Sheet drawn by the CAI estimated total cotton supply for the season 2015-16 at 467.65 lakh bales while the domestic consumption is estimated at 325.00 lakh bales thus leaving an available surplus of 142.65 lakh bales,” it stated in a release.
According to the data, the opening stock at the beginning of the 2014-15 season stood at 58.9 lakh bales (lb) and 52.58 lb the year before.
CAI highlighted the stock situation while releasing its second estimate for cotton output in the 2015-16 season (October to September) and has revised expected production to 377 lb. The figure is 1.5 per cent lower than the expected output of 382.75 lb, according to the CAI’s August estimate during the current season.
Cotton production in 2014-15 registered an increase in states like Andhra Pradesh and Telangana.
Meanwhile output in Gujarat, the country’s largest cotton growing state, likely declined to 108 lb from 129.25 lb in 2013-14. (KNN Bureau)
Releasing its second estimate for the cotton season 2015-16 beginning at October 1, 2015, CAI lowered its estimate for the cotton season 2015-16 and placed the same at 377.00 lakh bales of 170 kgs each.
“The projected Balance Sheet drawn by the CAI estimated total cotton supply for the season 2015-16 at 467.65 lakh bales while the domestic consumption is estimated at 325.00 lakh bales thus leaving an available surplus of 142.65 lakh bales,” it stated in a release.
According to the data, the opening stock at the beginning of the 2014-15 season stood at 58.9 lakh bales (lb) and 52.58 lb the year before.
CAI highlighted the stock situation while releasing its second estimate for cotton output in the 2015-16 season (October to September) and has revised expected production to 377 lb. The figure is 1.5 per cent lower than the expected output of 382.75 lb, according to the CAI’s August estimate during the current season.
Cotton production in 2014-15 registered an increase in states like Andhra Pradesh and Telangana.
Meanwhile output in Gujarat, the country’s largest cotton growing state, likely declined to 108 lb from 129.25 lb in 2013-14. (KNN Bureau)
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