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In its latest cotton crop estimate for the season 2020-21, the trade body Cotton Association of India (CAI) has reduced the crop size by 4 lakh bales (each of 170 kg) to 356 lakh bales.
The reduction is attributed to the lower output expected in Gujarat and Telangana. The CAI estimates show a decrease of one lakh bales in the crop estimate for Gujarat, while cotton crop for Telangana is estimated lower by 3 lakh bales based on the pressing data provided by Telangana Cotton Millers & Traders Welfare Association.
The trade body has increased the consumption estimate for the current crop year by 10 lakh bales to 325 lakh bales from its previous estimate of 315 lakh bales.
"The Committee has made this revision considering the brisk demand for cotton yarn despite disruptions caused on account of the lockdown implemented to arrest the second wave of Covid-19 pandemic in the country," it said.
Exports
Cotton exports for 2020-21 is projected to increase by 7 lakh bales to 72 lakh bales based on the input received from exporter-members, CAI noted. As of May 31, 2021, about 58 lakh bales are estimated to have been shipped. Imports, meanwhile, are estimated to be 10 lakh bales as against earlier estimated 11 lakh bales.
Indian cotton arrivals from October 2020 to May 2021 are estimated at 340.19 lakh bales.
Based on the latest production, consumption, imports and exports, the closing stock at the end of the season on September 30, 2021, is estimated at 94 lakh bales.
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