The Cotton Association of India (CAI) on Saturday reduced the cotton crop estimate by 8 lakh bales to 335.13 lakh bales for the 2021-22 season as production in Gujarat, Telangana, Maharashtra and Karnataka is expected to fall.
Total production in crop year 2020-21 was 353 lakh bales, the CAI said in a statement.
For Gujarat, the CAI lowered the production estimate to 88.99 lakh bales for the 2021-22 season, Telangana to 39.91 lakh bales, Maharashtra to 83.50 lakh bales and Karnataka to 21 lakh bales.
Meanwhile, the total cotton supply from October 2021 to March 2022 is estimated at 343.68 lakh bales, made up of arrivals of 262.68 lakh bales, imports of 6 lakh bales and the opening stock, which was 75 lakh at the start of the season lakh bales is estimated.
In addition, the CAI has estimated cotton consumption at 175,000 bales from October 2021 to March 2022, while export shipments are estimated at 35,000 bales through March 31, 2022.
Inventory at the end of March 2022 is estimated at 133.68 lakh bales, including 75 lakh bales at textile mills and the remaining 58.68 lakh bales at Cotton Corporation of India (CCI), Maharashtra Federation and others (including MNCs, traders, ginning company, MCX). others, including cotton sold but not delivered).
The CAI Crop Committee has estimated the total cotton supply by the end of the 2021-22 season, 30 September 2022, at 425.13 lakh bales, which is 8 lakh bales less than the previously estimated 433.13 lakh bales.
The total cotton supply consists of the initial stock of 75 lakh bales at the start of the cotton season on October 1, 2021, the harvest for the season estimated at 335.13 lakh bales and imports for the season estimated at 15 lakh -Bales are appreciated.
Domestic consumption is estimated by the CAI at 340 lakh bales, the same previously estimated level, while exports for the season were estimated at 45 lakh bales. Similarly, CAI has also reduced carryover stock to 40.13 lakh bales from the previous estimate of 48.13 lakh bales.
