Cotton output seen falling further to 312 lakh bales
| Date :12-Jul-2019 |
Business Bureau:
THE Cotton Association has further lowered its crop estimate by 3 lakh bales to 312 lakh bales for the 2018-19 season, mainly due to poor rainfalls in the South. Crop estimate from the Southern zone has been lowered by 3.25 lakh bales to 68.50 lakh bales as per the June forecast, compared to the May estimate of 71.75 lakh bales, the association said on Thursday. In Telangana and Andhra, the crop is estimated to be lower by 2.50 lakh bales and 2 lakh bales, respectively.
Similarly, for Maharashtra and MP the estimate have been lowered by 2.88 lakh bales and 7,000, bales respectively. However, for the Northern zone, the estimate is retained at the same level as in May, that is 59 lakh bales, while for the Central zone, the same been increased by 30,000 bales. Similarly, the estimate for Odisha is up by 2,000 bales over the May estimate.
Total supply from October 2018 to June 2019 is estimated at 347.84 lakh bales, which consists of the arrivals of 303.56 lakh bales up to end June, import of 11.28 lakh bales and the opening stock at the beginning of the season at 33 lakh bales. Further, the association has estimated an annual consumption at 243.12 lakh bales. Total supply till end September is forecast at 376 lakh bales, consisting of the opening stock of 33 lakh bales at the beginning of the cotton season and imports. Domestic consumption is estimated at 315 lakh bales while the carry-over stock is estimated at 15 lakh bales at the end of this season.