No change in demand, supply and closing stock numbers
Cotton Association (CAI) has released its May estimate of the cotton crop for the season 2018-19 beginning from 1 October 2018. CAI has retained its May estimate of the cotton crop for 2018-19 at 315 lakh bales i.e. at the same level as in the previous estimate. A statement containing the State-wise estimate of the cotton crop and the balance sheet for the cotton season 2018-19 with the corresponding data for 2017-18 crop year is enclosed.The total cotton supply estimated by the CAI during the period from October 2018 to May 2019 is 325 lakh bales of 170 kgs. each which consists of the arrivals of 287.72 lakh bales upto 31 May 2019, imports of 9.28 lakh bales upto 31 May 2019 and the opening stock at the beginning of the season on 1 October 2018 at 28 lakh bales.
Further, the CAI has estimated cotton consumption during the months of October 2018 to May 2019 at 209 lakh bales of 170 kgs each while the export shipment of cotton estimated by the CAI upto 31 May 2019 is 44 lakh bales of 170 kgs each. Stock at the end of May 2019 is estimated by the CAI at 72.00 lakh bales including 32.68 lakh bales with textile mills and remaining 39.32 lakh bales with CCI, MNCs and others (MNCs, Traders, Ginners, etc.).
The yearly Balance Sheet projected by the CAI estimates total cotton supply till end of the cotton season i.e. upto 30 September 2019 at 374 lakh bales of 170 kgs. each consisting of the Opening Stock of 28 lakh bales at the beginning of the cotton season and imports estimated by the CAI at 31 lakh bales, which are higher by 16 lakh bales compared to the previous year's import estimated at 15 lakh bales.
Domestic consumption estimated by the CAI for the entire crop year i.e. upto 30 September 2019 is 315 lakh bales while the CAI has estimated exports for the season at 46 lakh bales, which are lower by 23 lakh bales compared to the previous year's cotton exports estimate of 69 lakh bales. The carry over stock estimated at the end of the season is estimated at 13 lakh bales.
There is no change in demand, supply and closing stock numbers which are contained in the balance sheet drawn by the CAI now and the figures estimated by the CAI in the balance sheet remain the same as estimated by it in its previous estimate.
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