Trade circles feel the overall cotton crop volume for 2008-09 (October-September) season cannot exceed 28.5 to 29 million bales as against the projected 32.2 million by the Cotton Advisory Board.
The estimate needs to be revised, as the changed situation has arisen due to erratic weather all over India and pest infestation, the South India Cotton Association (SICA) said in its market report for the first half of December.
It said cotton lint prices displayed a steady to bearish tendency, as government agencies such as the Cotton Corporation of India were vigorously procuring seed cotton offering minimum support prices irrespective of the market sentiment during the period.