CAI revises cotton export projections downward to 54 lakh bales

The Cotton Association of India (CAI) has projected India’s cotton exports to fall by about 10 per cent to 54 lakh bales (each of 170 kg) from an earlier projection of 60 lakh bales.

As against the previous year’s 50 lakh bales of exports, the CAI, in its initial estimates, had projected cotton exports to be 20 per cent higher this year, which started from October 1, 2020 to September 30, 2021.

In its latest monthly crop estimate for November 2020, the trade body has retained the overall crop size at 356 lakh bales for the year. Total arrivals during October and November are estimated at 91.57 lakh bales.

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The trade body has also informed that the cotton stock held by mills in their godowns, as on November 30, 2020, is estimated at 40.00 lakh bales, which is equivalent to an average 43-day cotton stock, Atul Ganatra, President of CAI, said in a statement.

Virtual meeting

CCI, Maharashtra Federation, MNCs, Ginners and MCX are estimated to have stock of about 91.57 lakh bales as on November 30. Thus, total stock held by spinning mills and stockists as on November 30 is estimated at 131.57 lakh bales.

The CAI has retained its import projections at 14 lakh bales for the year.

The overall cotton consumption is estimated at 330 lakh bales for the year of which about 57.5 lakh bales has been consumed during the first two months of the year, CAI noted.

The Crop Committee of Cotton Association of India (CAI) held its meeting on December 5, 2020, through video conferencing, which was attended by 22 members representing all cotton producing States and stakeholders.

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