CAI retains 2019-20 cotton estimate at 354.5 lakh bales

The total cotton supply estimated by the CAI during the months from October 2019 to February 2020 is 298.43 lakh bales, which consists of the arrivals of 254.43 lakh bales up to February 29, 2020, imports of 12 lakh bales up to February 29, and the opening stock of 32.00 lakh bales.

Further, the CAI has estimated cotton consumption during the months of October 2019 to February 2020 at 133 lakh bales, while the estimated export shipment of cotton up to February 29 is 27.50 lakh bales. Stock at the end of February 2020 is estimated at 137.93 lakh bales, including 40 lakh bales with textile mills and the remaining 97.93 lakh bales with CCI and others (MNCs, traders, ginners, etc).

The yearly Balance Sheet projected by the CAI estimated total cotton supply till end of the cotton season i.e. up to September 30, 2020 at 411.50 lakh bales, i.e. at the same level as estimated in the previous month. Total cotton supply consists of the opening stock of 32.00 lakh bales at the beginning of the cotton season on October 1, 2019, crop for the season estimated at 354.50 lakh bales, and imports estimated at 25.00 lakh bales, which are lower by 7.00 lakh bales compared to the previous year’s estimate of 32.00 lakh bales.

Domestic consumption estimated by the CAI for the entire crop year i.e. up to September 30, 2020 is 331 lakh bales i.e. at the same level as estimated by the Cotton Advisory Board at their meeting held on November 28, 2019. The CAI has estimated exports for the season at 42 lakh bales i.e. at the same level as estimated in the previous year. The carryover stock estimated at the end of the season is 38.50 lakh bales.

ALCHEMPro News Desk (RKS)