|CAI MAINTAINS ITS COTTON CROP ESTIMATE FOR 2018-19 SEASON AT 315 LAKH BALES|
Cotton Association (CAI) has released its May estimate of the cotton crop for the season 2018-19 beginning from 1st October 2018. CAI has retained its May estimate of the cotton crop for 2018-19 at 315 lakh bales i.e. at the same level as in the previous estimate. A statement containing the State-wise estimate of the cotton crop and the balance sheet for the cotton season 2018-19 with the corresponding data for 2017-18 crop year is enclosed.
The total cotton supply estimated by the CAI during the period from October 2018 to May 2019 is 325 lakh bales of 170 kgs. each which consists of the arrivals of 287.72 lakh bales upto 31st May 2019, imports of 9.28 lakh bales upto 31st May 2019 and the opening stock at the beginning of the season on 1st October 2018 at 28 lakh bales.
Further, the CAI has estimated cotton consumption during the months of October 2018 to May 2019 at 209 lakh bales of 170 kgs. each while the export shipment of cotton estimated by the CAI upto 31st May 2019 is 44 lakh bales of 170 kgs. each. Stock at the end of May 2019 is estimated by the CAI at 72.00 lakh bales including 32.68 lakh bales with textile mills and remaining 39.32 lakh bales with CCI, MNCs and others (MNCs, Traders, Ginners, etc.).
The yearly Balance Sheet projected by the CAI estimates total cotton supply till end of the cotton season i.e. upto 30th September 2019 at 374 lakh bales of 170 kgs. each consisting of the Opening Stock of 28 lakh bales at the beginning of the cotton season and imports estimated by the CAI at 31 lakh bales, which are higher by 16 lakh bales compared to the previous year’s import estimated at 15 lakh bales.
Domestic consumption estimated by the CAI for the entire crop year i.e. upto 30th September 2019 is 315 lakh bales while the CAI has estimated exports for the season at 46 lakh bales, which are lower by 23 lakh bales compared to the previous year’s cotton exports estimate of 69 lakh bales. The carry over stock estimated at the end of the season is estimated at 13 lakh bales.
There is no change in demand, supply and closing stock numbers which are contained in the balance sheet drawn by the CAI now and the figures estimated by the CAI in the balance sheet remain the same as estimated by it in its previous estimate.
|Mumbai||(Atul S. Ganatra)|
|3rd June 2019||President|
HIGHLIGHTS OF DELIBERATIONS HELD AT THE CROP COMMITTEE MEETING OF COTTON ASSOCIATION OF INDIA ON 31ST MAY 2019
Crop Committee of Cotton Association of India (CAI) met on 30th May 2019. 12 members were present. Based on the data available from various trade sources, upcountry associations and other stakeholders, the Committee arrived at its May estimate of the cotton crop for the 2018-19 season beginning on 1st October 2018 and drew estimated cotton balance sheet.
The following are the highlights of the deliberations at the said meeting:-
- The cotton crop estimate for the season 2018-19 is retained by the CAI at 315 lakh bales i.e. at the same level as estimated by it in the previous month.
- There is no change in the projection of cotton export for the season and the same is also retained at 46 lakh bales as estimated by the CAI previously.
- There is no change in the projection of Import of cotton for the season and the same is also retained at 31 lakh bales as estimated by the CAI previously.
- The yearly consumption estimated by the CAI is also retained at the same level i.e. at 315 lakh bales as in the previous month.
- Indian cotton arrivals during the months of October 2018 to May 2019 are estimated at 287.72 lakh bales.
- Shipment of imports during the months of October 2018 to May 2019 are estimated at 9.28 lakh bales.
- Cotton export shipments during the months of October 2018 to May 2019 are estimated at 44 lakh bales.
- Consumption by Indian spinning mills for 8 months i.e. from 1st October 2018 to 31st May 2019 is estimated at 209 lakh bales.
- Cotton stock held by mills in their godowns on 31st May 2019 is estimated at 32.68 lakh bales. This means the mills are having about 38 to 40 days stock inside mill godowns.
- CCI, MNCs, Ginners and MCX are estimated to have stock of 39.32 lakh bales as on 31st May 2019 which is about 42.00 lakh running bales.
- Thus, total stock held by spinning mills and stockists on 31st May 2019 is estimated at 72 lakh bales of 170 kgs. each which is equal to about 76.00 lakh running bales.
- Due to small crop size and a very tight cotton balance sheet, closing stock as on 30th September 2019 is estimated by the Committee at 13 lakh bales of 170 kgs. each.
|( Atul S. Ganatra)|
|COTTON ASSOCIATION OF INDIA|
|INDIAN COTTON CROP ESTIMATE FOR THE SEASON 2017-18 AND 2018-19|
|Estimated as on 31st May 2019|
|COTTON ASSOCIATION OF INDIA|
|Balance Sheet of 8 months i.e. from 1.10.2018 to 31.05.2019|
|for the season 2018-19|
|AS PER COTTON ASSOCIATION OF INDIA|
|STOCK ON 31.05.2019|
|(Figures in lakh bales of 170 kg.)|