Latest News | CAI Retains Cotton Crop Estimate for 2020-21 at 360 Lakh Bales

Mumbai, Feb 8 (PTI) Cotton Association of India (CAI) on Monday retained its January estimate for the 2020-21 season output at 360 lakh bales due to more carry overstock.

The total cotton production for the 2019-20 season stood at 360 lakh bales, CAI said in a statement.

The cotton season runs from October to September.

The total cotton supply during October 2020 to January 2021 is estimated at 386.25 lakh bales, one bale is 170 kgs, which comprises the arrivals of 255.25 lakh bales, import of cotton estimated at 6 lakh bales up to January 31, and opening stock at the beginning of the cotton season on October 1, 2020 estimated at 125 lakh bales.

Further, the CAI has estimated cotton consumption from October 2020 to January 2021 at 110 lakh bales, while the export shipments of cotton estimated at 29 lakh bales till January 31, 2021.

The total stocks till January 31, are estimated at 247.25 lakh bales that include the cotton stocks of 75 lakh bales held by mills in their godowns and 172.25 lakh bales by the Cotton Corporation of India (CCI), Maharashtra Federation, MNCs, Ginners, traders, MCX among others.

Meanwhile, the CAI Crop Committee has estimated the total cotton supply until the end of the cotton season 2020-21, up to September 30, at 499 lakh bales.

The total cotton supply consists of the opening stock of 125 lakh bales at the beginning of the season, crop estimated at 360 lakh bales and imports estimated at 14 lakh bales.

Domestic consumption has now been estimated at 330 lakh bales, the same level as estimated in the previous month, CAI said adding that there is an increase of 80 lakh bales in the cotton consumption compared to the previous crop year's consumption estimate of 250 lakh bales.

The consumption is expected to reach its normal level this year after the disruptions and labour shortage caused by the lockdown imposed in the country to arrest the spread of the COVID-19 pandemic.

Meanwhile, CAI has estimated exports for the season at 54 lakh bales against 50 lakh bales estimated for the previous cotton season.

The carry-over stock at the end of the cotton season 2020-21, is estimated at 115 lakh bales against 107.50 lakh bales at the end of the previous cotton season 2019-20, CAI added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)