Cotton Association of India (CAI) has released its June estimate of the cotton crop for the season 2017-18 beginning from 1st October 2017. The CAI has retained its cotton crop estimate for the ongoing crop year 2017-18 at 365 lakh bales of 170 kgs each. This is at the same level as in its estimate made in the previous month.
The CAI has projected total cotton supply up to 30th June 2018 at 394.45 lakh bales which consists the arrival of 348.45 up to 30th June 2018. The Committee has estimated the imports at 10 lakh bales and the opening stock at the beginning of the season as on 1st October 2017 at 36 lakh bales.
Further the Committee has estimated cotton consumption for 9 months from October 2017 to June 2018 at 243 lakh bales. This works out to be at the rate of 27 lakh bales per month. The shipment of cotton till 30th June 2018 has been estimated at 64 lakh bales.
The stock at the end of June 2018 is estimated at 87.4 lakh bales including 51.85 lakh bales with textile mills while the remaining 35.60 lakh bales are estimated to be held by CCI and others that include MNCs, traders and ginners.
The projected yearly balance sheet for the season 2017-18 drawn by the CAI has estimated total supply till end of the season meaning up to 30th September 20118 at 416 lakh bales of 170 kgs each. This includes opening stock of 36 lakh bales at the beginning of the season.
The CAI has estimated domestic consumption for the season at 324 lakh bales while the exports are estimated to be 70 lakh bales. The carry-over stock at the end of the 2017-18 season is estimated by the CAI at 22 lakh bales.