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12
June 2018
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Cotton(The
Total Investment & Insurance Solutions)
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The Cotton Association
of India (CAI) today increased its May estimate of
the cotton crop production for the 2017-18 season
(October to September) by five lakh bales to 365 lakh bales. The Total Investment & Insurance
Solutions
The
April estimate of cotton crop was at 360 lakh bales of 170 kgs each.
The
upward revision in the May estimates is mainly due to higher yield estimated in
Gujarat, Karnataka, Andhra Pradesh, Madhya Pradesh and Tamil Nadu, CAI said in a release. The Total Investment & Insurance
Solutions
The
total cotton supply up to May 31 this year has been projected at 378.50 lakh
bales, which consists of the opening stock of 30 lakh bales at the beginning of
the season on October 1, 2017, the arrival of 340 lakh bales up to May 31, and
imports which is estimated at 8.50 lakh bales up to May end.
Further,
CAI said, it has estimated cotton consumption for eight months, October 2017 to
May 2018, at 216 lakh bales at an average of 27 lakh bales per month, while the
export shipment till May 31 has been estimated at 62 lakh bales.
The
total stocks at the end of May is estimated at 100.50 lakh bales, including 58
lakh bales with textile mills, while the remaining 42.50 lakh bales are
expected to be held with the Cotton Corporation of India (CCI) and others (traders, ginners, among
others). The Total Investment &
Insurance Solutions
CAI
has estimated total cotton supply till end of the season, that is up to
September 30, at 410 lakh bales.
The
domestic consumption for the season was estimated at 324 lakh bales, while the
exports for the season was projected to be at 70 lakh bales.
The
carry-over stock at the end of the 2017-18 crop year is estimated at 16 lakh
bales. The Total Investment &
Insurance Solutions
Around
93 per cent of the total crop for the season has already arrived in the market
up to May 31 this year, CAI added.The
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