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Unseasonal rains in central parts of the country including Gujarat, Maharashtra and Madhya Pradesh has resulted in loss of about five lakh bales (of 170 kg each) of cotton this season to September.
The Cotton Association of India has estimated that the cotton output this year to drop to 391 lakh bales (lb) against 396 lb estimated in February.
The main reason for drop in the crop size by 5 lb is largely due to untimely rain in the central zone, said CAI in a statement. The Association has projected total cotton supply at 461 lb with opening stocks of 59 lb and imports of 11 lb. The total demand has been pegged at 310 lb including 274 lb from mills, 26 lb from small scale units and 10 lb for non-mills consumption. This leaves a surplus of 151 lb for export. However, it said, exports are lagging far behind compared to last year and there is only a limited demand for Indian cotton in the market, said Dhiren N Sheth, President, CAI, in a statement.
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