The Cotton Association of India (CAI) on Saturday cut its cotton crop forecast for the 2021-22 season by 8 lakh bales to 335.13 lakh bales as production is expected to decline in Gujarat, Telangana, Maharashtra and Karnataka.
The total production during the crop year 2020-21 stood at 353 lakh bales, CAI said in a statement.
For Gujarat, CAI put the production estimate for the 2021-22 season at 88.99 lakh bales, Telangana at 39.91 lakh bales, Maharashtra at 83.50 lakh bales and Karnataka at 21 lakh bales.
Meanwhile, the total cotton supply from October 2021 to March 2022 is estimated at 343.68 lakh bales, which includes arrivals of 262.68 lakh bales, imports of 6 lakh bales and an opening stock of 7.5 million bales at the beginning of the season.
Further, CAI has estimated cotton consumption at 175 lakh bales from October 2021 to March 2022, while export shipments are estimated to be 35 lakh bales by March 31, 2022.
The stock at end-March 2022 is estimated to be 133.68 lakh bales, of which 75 lakh bales with textile mills and the remaining 58.68 lakh bales with Cotton Corporation (CCI), Maharashtra Federation and others (including MNCs, traders, ginners, MCX) Huh. others, including cotton, were sold but not distributed).
The CAI Crop Committee has projected a total supply of 425.13 lakh bales of cotton by the end of season 2021-22, i.e. up to September 30, 2022, which is 8 lakh bales less than the earlier estimated 433.13 lakh bales.
The total supply of cotton includes an opening stock of 7.5 million bales at the start of the cotton season on October 1, 2021, an estimated harvest of 335.13 lakh bales for the season and an estimated import of 1.5 million bales for the season.
Domestic consumption by CAI is estimated at 340 lakh bales, the same level as earlier, while exports for the season are estimated at 45 lakh bales. Similarly, CAI has also reduced the carry-over stock to 40.13 lakh bales from the earlier estimate of 48.13 lakh bales.