(CAI) has increased the estimate for cotton output

Cotton Association of India (CAI) has increased the estimate for cotton output by 5.50 lakh bales to 360 lakh bales for the 2019-20 season in its September estimate due to higher production in the central zone.

The total cotton production in 2018-19 (October-September) stood at 312 lakh bales, the CAI said in a statement on Monday.

CAI in earlier its estimate had pegged the production at 354.50 lakh bales for the 2019-20 season.

The production estimate for the central zone has been increased by 5.50 lakh bales that is 2.50 lakh bales each in Gujarat and Maharashtra and 50,000 bales each in Madhya Pradesh.

The total cotton supply till the end of the season, that is up to September 30, was at 407.50 lakh bales, which consists of the opening stock of 32 lakh bales at the beginning of the cotton season on October 1, 2019, crop for the season estimated at 360 lakh bales and imports estimated at 15.50 lakh bales.

The imports are estimated to be lower by 16.50 lakh bales compared to the previous year’s estimate of 32 lakh bales.

Domestic consumption for the entire crop year, that is up to September 30, has been estimated at 250 lakh bales.

The CAI has retained its export estimate for the season at the same level as estimated by it previously, that is 50 lakh bales. The carryover stock estimated at the end of the season is 107.50 lakh bales. PTI