By Our Staff Reporter
MUMBAI, FEB. 05
The Cotton Association of India (CAI) in its January estimate has retained its cotton crop estimate for 2019-20 at 354.50 lakh bales of 170 kgs. each i.e. at the same level as in the previous estimate.
Mr. Atul S. Ganatra, President, CAI, informed that the total cotton supply estimated by the CAI during the months of October 2019 to January 2020 is 234.89 lakh bales of 170 kgs. each which consists of the arrivals of 192.89 lakh bales upto 31st January 2020 (equivalent to 205 lakh running bales of 160 kgs. each), imports of 10.00 lakh bales upto 31st January 2020 and the opening stock at the beginning of the season which has been revised by the CAI from 23.50 lakh bales to 32 lakh bales based on the feedback received from the Trade sources and as per the discussions held at the meeting of CAI Crop Committee.
Further, the CAI, Mr. Ganatra said, has estimated cotton consumption during the months of October 2019 to January 2020 at 106 lakh bales of 170 kgs. each (which is equivalent to 113 lakh running bales of 160 kgs. each) while the export shipment of cotton estimated by the CAI upto 31st January 2020 is 20 lakh bales of 170 kgs. each.
Stock at the end of January 2020 is estimated by the CAI at 108.89 lakh bales (equivalent to 115.70 lakh running bales of 160 kgs. each) including 38 lakh bales (equivalent to 40 lakh running bales of 160 kgs. each) with textile mills and remaining 70.89 lakh bales with CCI and others (MNCs, Traders, Ginners, etc.).
Kapas has not been considered in the stock figures, he said. The yearly Balance Sheet projected by the CAI, Mr. Ganatra said, estimates total cotton supply till end of the cotton season i.e. upto 30th September 2020 at 411.50 lakh bales of 170 kgs. each.
Total cotton supply consists of the Opening Stock at the beginning of the Season which the Committee has revised from 23.50 lakh CAI maintains 2019-20 cotton crop at 354.50 lakh bales bales to 32 lakh bales as per the feedback received from Trade sources and the discussions held in the meeting, crop for the season estimated at 354.50 lakh bales and imports estimated by the CAI at 25.00 lakh bales, which are lower by 7.00 lakh bales compared to the previous year’s estimate at 32.00 lakh bales.
Domestic consumption estimated by the CAI for the entire crop year i.e. upto 30th September 2020 is 331 lakh bales i.e. at the same level as estimated by the Cotton Advisory Board at their meeting held on 28th November 2019.
The CAI has estimated exports for the season at 42 lakh bales i.e. at the same level as estimated in the previous year. The carryover stock estimated at the end of the season is 38.50 lakh bales i.e. higher by 8.50 lakh bales compared to that estimated earlier, he said. (Source: Tecoya Trend)