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India: CAI retains cotton estimate for ongoing crop year

The Cotton Association of India (CAI) has retained its cotton crop estimate for the ongoing crop year 2017-18 at 365 lakh bales of 170 kg each. Total cotton supply up to August 31, 2018, has been projected at 407.50 lakh bales. The stock at the end of August 2018, is estimated at 41.50 lakh bales including 30.40 lakh bales with textile mills while the remaining 11.10 lakh bales are estimated to be held by CCI and others (MNCs, traders, ginners, etc.).

The projected annual balance sheet for the season 2017-18 estimates total cotton supply till the end of the season (September 30, 2018), at 416 lakh bales of 170 kg each which includes an opening stock of 36 lakh bales at the beginning of the season.

CAI has estimated domestic consumption for the season at 324 lakh bales while exports are estimated at 70 lakh bales. The carryover stock at the end of the 2017-18 season is estimated at 22 lakh bales. Exports from India this year received a fillip thanks to the rupee depreciation. Pink bollworm infestation is influencing cotton production in India this year.