Agri Business

Cotton arrivals in October recorded at 31.12 lakh bales

Our Bureau Ahmedabad | Updated on November 23, 2021

Workers fill a truck with cotton for transportation at Khetiwadi Utpann Bazar Samiti yard at Bedi in Rajkot, Friday, October 22 (File photo)   -  PTI

Arrivals up 15% year-on-year as prices nearly doubled in one year

Cotton Association of India (CAI) on Tuesday informed that cotton arrivals in the first month of the season stood at 31.12 lakh bales ( 170 kg each), which is about 15 per cent more than 27.16 lakh bales recorded in the same month last year.

Notably, cotton prices have nearly doubled in the year-on-year basis from ₹4,355 a quintal to ₹8,405 a quintal at Gondal market in Gujarat. CAI has retained the earlier projection of cotton crop for the season beginning October 1, 2021 at 360.13 lakh bales, which is up by 7 lakh bales from 353 lakh bales estimated for the previous year.

During October 2021, the total cotton supply including the arrivals of 31.12 lakh bales is estimated at 107.12 lakh bales. It includes imports of 1 lakh bales and also the opening stock of 75 lakh bales at the beginning of the season on October 1, 2021. On the consumption front, the CAI has estimated cotton consumption during October 2021 at 27.91 lakh bales with export shipments of 4 lakh bales during the month.

Total stocks at the end of October 31, 2021 is estimated at 75.21 lakh bales. The cotton stock held by mills in their godown is estimated at 46.21 lakh bales and the mills have on an average 50 days stock in their godown, the CAI noted in its monthly arrivals and crop assessment statement.

Stocks held by Cotton Corporation of India (CCI), Maharashtra Cotton Federation, Multinationals, Ginners, Traders and Exchanges are estimated at a total of about 29 lakh bales. Thus, the total stock held by these bodies is estimated at 75.21 lakh bales.

Published on November 23, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

You May Also Like