CAI ups crop estimate by 2.50 lakh bales for 2020-21 season

The Cotton Association of India (CAI) has raised the crop estimate by 2.50 lakh bales to 358.50 lakh bales for the 2020-21 season because of a high carryover stock. The total production for the 2019-20 season stood at 360 lakh bales. The CAI’s previous estimate for 2020-21 was around 356 lakh bales.

Total cotton supply estimated by the CAI during October to December 2020 is 327.35 lakh bales of 170 kg each. The total estimated supply comprises arrivals of 197.85 lakh bales during October to December 2020 and imports of around 4.50 lakh bales up to December 31.

The CAI has estimated cotton consumption during October to December 2020 at 82.50 lakh bales, while shipments up to December 31, 2020 are estimated at 20 lakh bales. Stocks at the end of December 2020 are estimated at 224.85 lakh bales, including 65 lakh bales held by mills as on December 31 and 159.85 lakh bales held by the CCI, Maharashtra Federation, MNCs and ginners, etc.

The CAI has maintained its exports estimate for the 2020-21 season at 54 lakh bales, against the previous year’s estimate of 50 lakh bales. Around 20 lakh bales are estimated to have been shipped till December 31.

Indian cotton arrivals during October to December 2020 are estimated at 197.85 lakh bales. The total stock held by spinning mills and stockists as on December 31, 2020 is estimated at 224.85 lakh bales. The estimate of the cotton imports has been maintained at 14 lakh bales, from 15.50 lakh bales estimated for the 2019-20 crop year.

Domestic consumption has now been estimated at 330 lakh bales. The consumption is estimated to reach its normal level this year after the disruption and labour shortage caused on account of lockdown.