Cotton crop forecast cut to 340 lakh bales
Owing to crop losses in Gujarat, Maharashtra, Telangana and Karnataka, the Cotton Association of India (CAI) has lowered its crop estimate for 2018-19 to 340.25 lakh bales (of 170 kg) from 343.25 lakh bales estimated earlier.
The crop loss is likely to be maximum in Gujarat at 85 lakh bales as against 105 lakh bales reported in 2017-18. Similarly, Maharashtra is likely to be down to 79 lakh bales (83 lakh bales).
Telangana and Andhra Pradesh are likely to lose 2 lakh bales each and Karnataka 1.75 lakh bales.
However, the CAI has increased the crop estimate for Haryana by 1 lakh bales, and Upper Rajasthan and Lower Rajasthan by 50,000 bales each as compared with previous estimate, the CAI stated in a statement.
As per the latest estimates, the CAI has projected the total cotton supply during October and November at 95 lakh bales with consumption pegged at 54 lakh bales. The export shipments of cotton up to November 30, 2018 have been estimated at 10 lakh bales. Cotton imports are likely to increase by 12 lakh bales to 27 lakh bales against 15 lakh bales estimated for the 2017-18 crop year.