CAI maintains 2018-19 cotton estimate at 315 lakh bales low melt

The Cotton Association of India (CAI) has retained its May estimate of the cotton crop for 2018-19 season that began on October 1, 2018, at 315 lakh bales i.e. at the same level as in the previous estimate. The total cotton supply estimated by the CAI during October 2018 to May 2019 is 325 lakh bales of 170 kg each with consumption at 209 lakh bales.

Up to May 31, 2019, total cotton arrival at markets is estimated at 287.72 lakh bales, while imports are pegged at 9.28 lakh bales. In addition, there was an opening stock of 28 lakh bales at the beginning of the season on October 1, 2018.

By May 31, export shipment of cotton estimated by the CAI is 44 lakh bales. Stock at the end of May 2019 is estimated by the CAI at 72 lakh bales including 32.68 lakh bales with textile mills and remaining 39.32 lakh bales with CCI, MNCs and others (MNCs, traders, ginners, etc.).

The yearly Balance Sheet projected by the CAI estimates total cotton supply till end of the cotton season i.e. up to September 30, 2019 at 374 lakh bales of 170 kg each consisting of the Opening Stock of 28 lakh bales at the beginning of the cotton season and imports estimated by the CAI at 31 lakh bales, which are higher by 16 lakh bales compared to the previous year’s import estimated at 15 lakh bales.

Domestic consumption estimated by the CAI for the entire crop year i.e. up to September 30, 2019 is 315 lakh bales, while the CAI has estimated exports for the season at 46 lakh bales, which are lower by 23 lakh bales compared to the previous year’s cotton exports estimate of 69 lakh bales. The carry over stock estimated at the end of the season is estimated at 13 lakh bales.