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24/11/2021 04:08pm

With bumper crop cotton prices may weaken

image With bumper crop cotton prices may weaken

New Delhi, 24 Nov (KNN) The arrival of cotton in the first month of this season is 31.12 lakh bales which is 170 kg each. This current number has increased 15 per cent more when compared to last year which was 27.16 lakh bales, said the Cotton Association of India (CAI).

This increase of cotton arrival indicates potential cut in cotton prices which will help the garment industry, as it is an important plant-based raw material for textiles.

In view of the total cotton supply in the month of October inclusive of the arrivals of 31.12 lakh bales it is estimated at 107.12 lakh.

The imports were reported to be around 1 lakh bales with opening stocks of 75 lakh on 1st October, and the cotton consumption during October was at 27.91 lakh bales with export shipments of 4 lakh.

While it is estimated that about 29 lakh bales stock is held by CCI, Maharashtra Cotton Federation, multinationals and traders.

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