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CAI retains cotton crop estimate at 365 lakh bales for 2017-18

The Cotton Association of India (CAI) has maintained its July estimate of the cotton crop for the ongoing season (October-September) 2017-18 at 365 lakh bales, the same level as in the estimates made by it during the last couple of months. It has projected total cotton supply up to July 31 at 400.45 lakh bales, which comprises the arrival of 353.45 lakh bales up to July 31.

However, it has revised crop estimates for Punjab and Haryana, reducing the output by 2 lakh bales and 50,000 bales, respectively, based on the arrivals up to July 31. Meanwhile, the crop estimates for upper Rajasthan and lower Rajasthan have been increased by 1 lakh bales and 1.50 lakh bales, respectively, compared to the last month estimates based on the arrivals.

The association further estimated that cotton consumption for 10 months, that is from October 2017 to July 2018, at 270 lakh bales, while the shipment of cotton till July 31 has been estimated at 67 lakh bales. The stock at the end of July 2018 is estimated at 63.45 lakh bales, including 42.65 lakh bales with textile mills, while the remaining 20.80 lakh bales are estimated to be held by the Cotton Corporation of India (CCI) and others (MNCs, traders, ginners, among others).

Besides, the total cotton supply till end of the season, that is up to September 30, is estimated at 416 lakh bales, which 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 at 22 lakh bales.

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