The Cotton Association of India (CAI) has lowered its estimates for cotton crop for the ongoing 2017-18 crop year at 367 lakh bales.
By: FE Bureau | Pune |
February 10, 2018
Cotton Association of India has lowered its estimate by 8 lakh bales due to severe pink bollworm infestation in many parts of the country.
The Cotton Association of India (CAI) has lowered its estimates for cotton crop for the ongoing 2017-18 crop year at 367 lakh bales. The association has released its January 2018 estimate of the cotton crop for the year 2017-18 beginning from October 1, 2017. The CAI has lowered its estimate for the ongoing season by 8 lakh bales.
The reason is severe pink bollworm infestation, said Atul Ganatra, president of CAI. In accordance with the advice of the scientists, the farmers in several areas, particularly in Maharashtra and Telangana, have uprooted their cotton crop without waiting for further pickings, he said.
The projected balance sheet drawn by the CAI estimated total cotton supply for the season at 417 lakh bales of 170 kg each, including the opening stock of 30 lakh bales at the beginning of the season, and the imports which the CAI estimated at 20 lakh bales for the 2017-18 crop year.
The domestic consumption is estimated to be at 320 lakh bales while CAI estimates exports for the season to be 55 lakh bales. The carryover stock at the end of this season on September 30, 2018 is estimated to be 42 lakh bales. As per data received from each cotton growing local state association, the CAI estimates cotton arrivals up to January 31, 2018 at 211 lakh bales compared to 157.75 lakh bales arrived during the same period last season. (Source: financialexpress.com)