Cotton Association of India revises 2016-17 cotton crop to higher estimated output

Cotton Association of India (CAI) has upwardly revised cotton crop estimate for 2016-17 season to 337.25 lakh bales of 170 kg each, in its June estimate. In its previous May estimate, the association had estimated cotton crop for the season beginning October 1, 2016 at 336.25 lakh bales. More than 90 per cent of the season’s crop has already reached market.

The projected Balance Sheet drawn by the CAI estimated total cotton supply for the season at 409.25 lakh bales while the domestic consumption is estimated at 305.00 lakh bales, thus leaving an available surplus of 104.25 lakh bales.

Cotton exports are projected to decline to 63 lakh bales this season compared to previous season’s 72 lakh bales. Thus, closing stock as on September 30, 2017, is expected to be 41.25 lakh bales, the balance sheet showed.
The 41.25 lakh bales opening stock for the next season, however, would be lower than the current season’s opening stock of 45 lakh bales. (RKS)