Cotton crop fore­cast cut to 340 lakh bales

The Hindu Business Line - - COMMODITIES -

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.

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