 "Cotton sector in crisis on high surplus of 16.6 million bales")
The Cotton Association of India has estimated total cotton supply, including carry forward stock for the current cotton year, to be 47.2 million bales.
The cotton body said today that crop for the year is estimated at 40 million bales and considering domestic consumption, which is estimated to be at 30.6 million bales, there would be a surplus of 16.6 million bales. CAI has asked the government to support the cotton chain which is facing a crisis due to the huge glut and sharply falling export demand, after China reduced import of the material
"With a bumper crop of around 4 crore bales and a huge available surplus resulting in a glut, the cotton sector in India is facing a major crisis. In order to tide over this situation, we urge the Government to support the entire cotton sector including the ginning, trading and exporting sectors through banking channels and other means," CAI said in a press release.
The cotton body said today that crop for the year is estimated at 40 million bales and considering domestic consumption, which is estimated to be at 30.6 million bales, there would be a surplus of 16.6 million bales. CAI has asked the government to support the cotton chain which is facing a crisis due to the huge glut and sharply falling export demand, after China reduced import of the material
"With a bumper crop of around 4 crore bales and a huge available surplus resulting in a glut, the cotton sector in India is facing a major crisis. In order to tide over this situation, we urge the Government to support the entire cotton sector including the ginning, trading and exporting sectors through banking channels and other means," CAI said in a press release.