The Cotton Association of India (CAI) on Saturday reduced the cotton crop estimate by 8 lakh bales to 335.13 lakh bales for the 2021-22 season as the production in Gujarat, Telangana, Maharashtra and Karnataka is expected to decline.
The total production during crop year 2020-21, stood at 353 lakh bales, the CAI said in a statement.
For Gujarat, the CAI lowered the production estimate to 88.99 lakh bales for the 2021-22 season, Telangana to 39.91 lakh bales, Maharashtra to 83.50 lakh bales and in Karnataka to 21 lakh bales.
Meanwhile, the total cotton supply from October 2021 to March 2022 is estimated at 343.68 lakh bales, which consists of the arrivals of 262.68 lakh bales, imports of 6 lakh bales and the opening stock estimated at 75 lakh bales at the beginning of the season.
Further, the CAI has estimated cotton consumption from October 2021 to March 2022 at 175 lakh bales while the export shipments up to March 31, 2022 are estimated at 35 lakh bales.
Stock at the end of March 2022 is estimated at 133.68 lakh bales, including 75 lakh bales with textile mills and the remaining 58.68 lakh bales with the Cotton Corporation of India (CCI), Maharashtra Federation and others (MNCs, traders, ginners, MCX among others including the cotton sold but not delivered).
The CAI Crop Committee has estimated the total cotton supply till end of the season 2021-22, that is up to September 30, 2022, at 425.13 lakh bales which is less by 8 lakh bales compared to 433.13 lakh bales estimated previously.
The total cotton supply consists of the opening stock of 75 lakh bales at the beginning of the cotton season as on October 1, 2021, crop for the season estimated at 335.13 lakh bales and the imports for the season estimated at 15 lakh bales.
The domestic consumption is estimated by the CAI at 340 lakh bales, the same level estimated previously, while the exports for the season have been estimated at 45 lakh bales.
Similarly, CAI has also lowered the carry-over stock to 40.13 lakh bales from the earlier estimation of 48.13 lakh bales.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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