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Driven by an increase of about 5.5 lakh bales (of 170 kg each), in the Central India and Telangana’s cotton growing regions, the Cotton Association of India (CAI) increased its crop projections for the year 2019-20 season to 360 lakh bales. The trade body had earlier estimated cotton crop of 354.50 lakh bales for the season that began on October 1, 2019 and ended on September 30, 2020.
The closing stock for the season 2019-20 is estimated at record 107.50 lakh bales as on September 30.
The production estimate for the Central zone has been increased by 5.50 lakh bales in Gujarat and Maharashtra and 50,000 bales in Madhya Pradesh. While increase of production estimate in Telangana compared to the previous crop estimate has been offset against reduction of 1 lakh bales in the crop estimate for Karnataka.
The CAI has retained its consumption estimate for 2019-20 at the same level as its previous estimate of 250 lakh bales. “The consumption for the Season is less by 61.50 lakh bales as compared to that of the previous season mainly due to the disruptions caused on account of lockdown and the shortage of labour,” Atul Ganatra, President, CAI, said in a statement.
For cotton imports, CAI has reduced the its projections for the season by 50,000 bales to 15.50 lakh bales as against previously estimated 16 lakh bales.
CAI has retained its earlier estimate about exports at 50 lakh bales, which is about 8 lakh bales higher than 42 lakh bales reported last year.
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