The trade body has raised production estimates by 1.50 lakh bales while reducing the projection of cotton import by one lakh bales to 11 lakh bales.
The CAI has increased the production estimate of cotton in 2020-21 (October-September) by 1,50,000 bales in north zone i.e. 50,000 bales each in Haryana, Upper Rajasthan and Lower Rajasthan.
The trade body has retained its consumption estimate for the current crop year at the same level as estimated in the last month i.e. 330 lakh bales of 170 kgs each.
There is an increase of 80 lakh bales in the cotton consumption estimate compared to the previous year’s consumption estimate of 250 lakh bales of 170 kgs each.
The consumption is estimated to reach its normal level this year after the disruptions and labour shortage caused on account of the lockdown imposed in the country to arrest the spread of the Covid-19 pandemic, said CAI.
The estimate of cotton imports into India has been reduced by one lakh bales to 11 lakh bales from the previous month’s import estimate of 12 lakh bales.
The imports now estimated for the 2020-21 crop year are less by 4.50 lakh bales from 15.50 lakh bales estimated for the 2019-20 crop year.
Upto March 31, 2021, about 7.50 lakh bales of 170 kgs each are estimated to have arrived at the Indian Ports, said the trade body.
The estimate of cotton exports for the 2020-21 crop year has been retained at 60 lakh bales. Upto March 31, 2021, about 43 lakh bales are estimated to have been shipped, said CAI.
As per the estimate, the closing stock of cotton as on September 30 this year will be 106 lakh bales.