COMMODITY
CAI lowers cotton crop estimate to 340.25 lakh bales for 2018-19
Dec-10-2018

The Cotton Association of India (CAI) has trimmed its November cotton crop estimate by 3 lakh bales to 340.25 lakh bales for the 2018-19 season. It lowered cotton crop estimate mainly due to unfavourable weather conditions. In November, the association had estimated cotton output at 343.25 lakh bales for the 2018-19 season, which began on October 01.

CAI reduced the crop estimate for Gujarat by 3 lakh bales, Maharashtra by 1 lakh bales and Telangana by 1.50 lakh bales. However, it increased the crop estimate for Haryana by 1 lakh bales and upper Rajasthan, lower Rajasthan and Andhra Pradesh by 50,000 bales each. The association has projected total cotton supply during October and November at 95 lakh bales, which consists of the arrival of 70 lakh bales up to November 30, imports of 2 lakh bales and the opening stock at the beginning of the season as on October 1 that the CAI has estimated at 23 lakh bales.

Besides, the association has estimated cotton consumption during October and November at 54 lakh bales, while the export shipment of cotton up to November 30, at 10 lakh bales. The CAI has estimated domestic consumption for the season at 324 lakh bales, while the exports at 53 lakh bales, which is lower by 16 lakh bales against the exports of 69 lakh bales estimated during last year. The carry-over stock at the end of the 2018-19 season is estimated at 13.25 lakh bales.

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