)
With cotton exports virtually coming to standstill and fresh arrivals continue to throng the markets, India is expected to witness huge cotton surplus for the season 2012-13.
The Cotton Association of India (CAI) has projected the cotton supply at 41.92 million bales for the year 2012-13, against which the domestic consumption is estimated at 27.5 million bales, thereby leaving an available surplus of 14.42 million bales, the CAI President Dhiren Sheth noted in a estimates for the season 2012-13.
In its recent report on cotton, the Cotton Association of India noted that cotton exports have virtually come to standstill, while average daily arrivals continue at a pace of over 100,000 bales (each of 170 kg).
This is expected to create huge surplus cotton available in the country for the year 2012-13. Total arrivals as on March 31, 2013 stood at 29.4 million bales so far.
According to the CAI estimate, domestic mill consumption for the year is expected to be around 23.8 million bales as against 21.7 million bales witnessed last year.
CAI has placed the cotton crop for the season 2012-13 at 35.1 million bales.
