CAI retains February 2020 cotton estimates at 354.50 lakh bales

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The Cotton Association of India (CAI) has released its February estimates of the cotton crop for the season 2019-20 beginning October 1, 2019, at 354.50 lakh bales of 170 kg each, retaining its previous figures.

The cotton supply estimated by the CAI during the months from October 2019 to February 2020 was 298.43 lakh bales of 170 kg each. This consists of the fresh arrivals of 254.43 lakh bales till February 29, imports of 12 lakh bales till February-end, and the opening stock at the beginning of the season is estimated at 32 lakh bales.

Further, the CAI has estimated cotton consumption during the period of October 2019 to February 2020 at 133 lakh bales. Cotton exports till February-end was estimated at 27.50 lakh bales of 170 kg each. Stock at the end of February was estimated at 137.93 lakh bales, including 40 lakh bales with textile mills and remaining 97.93 lakh bales with CCI and others (MNCs, traders, ginners, etc.).

The trade body estimated domestic consumption for the crop year at 331 lakh bales ― same as what was estimated by the Cotton Advisory Board at their meeting held on November 28, 2019. Exports for the season and the carryover stock at the end of the season have been estimated at 42 lakh bales and 38.50 lakh bales, respectively.

Cotton arrivals during the period October 2019-February 2020 are estimated at 254.43 lakh bales of 170 kg each, equivalent to 270.33 lakh running bales of 160 kg each. Import shipment from October 1, 2019, to February 29, 2020, which have reached Indian ports, are estimated at 12 lakh bales while balance 13 lakh bales are estimated to arrive the ports during the period from March 1 to September 30 (total imports estimated during the entire season are 25 lakh bales).

Exports from October 1, 2019 to February 29, 2020 which have already been shipped, are estimated at 27.50 lakh bales while the balance of 14.50 lakh bales are expected to be shipped from March 1 to September 30. Consumption by Indian spinning mills for five months from October 1, 2019, to February 29 is estimated at 133 lakh bales.

Shekhar Ghosh is consulting editor, Indoasiancommodities.com. He has edited and written for publications like Business India, Business Standard, Business Today, Outlook and many other international publications. He can be reached at shekhar.ghosh@indoasiancommodities.in.

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