CAI raises estimate for 2020-21 CY to 358.50 lakh bales

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The Cotton Affiliation of India (CAI) just lately elevated its cotton crop estimate for the 2020-21 cotton season, which started on October 1, by 2.50 lakh bales to 358.50 lakh bales of 170 kg every (380.91 lakh operating bales of 160 kg every) from its earlier estimate of 356 lakh bales of 170 kg every (378.25 lakh operating bales of 160 kgs every) made throughout early December.

Whole cotton provide estimated by the CAI between October and December final 12 months is 327.35 lakh bales of 170 kg every (347.81 lakh operating bales of 160 kg), which comprised arrivals of 197.85 lakh bales of 170 kg every (210.22 lakh operating bales of 160 kg every) between October and December and import of cotton estimated at four.50 lakh bales of 170 kg every (four.78 lakh operating bales of 160 kg every) as much as December 31.

It additionally comprised opening inventory as on October 1, wherein the committee has made a one-time enhance from 107.50 lakh bales of 170 kg every to 125 lakh bales of 170 kg every (132.81 lakh operating bales of 160 kg every) on account of an inadvertent error crept in not accounting the inventory of offered however not delivered cotton of presidency companies viz. CCI and Maharashtra Federation on the shut of the earlier cotton 12 months, stated a CAI press launch.

Additional, CAI estimated cotton consumption throughout October to December final 12 months at 82.50 lakh bales of 170 kg every (87.66 lakh operating bales of 160 kg every), whereas export shipments of cotton as much as December 31 have been estimated at 20 lakh bales of 170 kg every (21.25 lakh operating bales of 160 kg every).

Inventory on the finish of December 2020 was estimated at 224.85 lakh bales of 170 kg every (238.90 lakh operating bales of 160 kg every), together with 65 lakh bales of 170 kg every (69.06 lakh operating bales of 160 kg every) held by mills of their godowns on December 31 and 159.85 lakh bales of 170 kg every (169.84 lakh operating bales of 160 kg every) held by CCI, the Maharashtra Federation, multinational companies and ginners.

The CAI Crop Committee has estimated the overall cotton provide until the tip of the CY 2020-21 at 497.50 lakh bales of 170 kg every (528.59 lakh operating bales of 160 kg every). This consists of the revised opening inventory of 125.00 lakh bales of 170 kg every originally of the season on October 1 final 12 months, crop for the season estimated at 358.50 lakh bales of 170 kg every (380.91 lakh operating bales of 160 kg every) and imports estimated at 14 lakh bales of 170 kg every (14.88 lakh operating bales of 160 kg every).

The imports estimated for CY 2020-21 are much less by 1.50 lakh bales of 170 kg every (16.47 lakh operating bales of 160 kg every) estimated for the earlier crop 12 months.

Home consumption is now estimated at 330 lakh bales of 170 kg every (350.63 lakh operating bales of 160 kg every), i.e. on the identical degree as estimated beforehand. There is a rise of 80 lakh bales of 170 kg every within the cotton consumption for the CY 2020-21 from earlier 12 months’s consumption estimate of 250 lakh bales.

The consumption is estimated to achieve its regular degree this 12 months after the disruption and labour scarcity induced on account of the lockdown imposed within the nation. CAI has estimated exports for the season at 54 lakh bales of 170 kg every (57.38 lakh operating bales of 160 kg every).

The carry-over inventory on the finish of CY 2020-21 is estimated at 113.50 lakh bales of 170 kg every (120.59 lakh operating bales of 160 kg every). CAI’s crop committee held a digital assembly on January 6.

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The Cotton Affiliation of India has elevated its cotton crop estimate for the 2020-21 cotton season, which started on October 1, by 2.50 lakh bales to 358.50 lakh bales of 170 kg every (380.91 lakh operating bales of 160 kg every) from its earlier estimate of 356 lakh bales of 170 kg every (378.25 lakh operating bales of 160 kgs every) made throughout early December.





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