Cotton Association of India (CAI) has retained its earlier estimate of cotton crop at 340.5 Lakh bales for 2016-17 crop year beginning October 1, 2016. The balance sheet drawn by the CAI, in its April estimate, projects total cotton supply for the season at 410.50 lakh bales while domestic consumption is pegged at 300 lakh bales.
According to the just released April estimate of the cotton crop by the CAI, there would be an available surplus of 110.50 lakh bales during 2016-17 seasons.
“The arrival of cotton during the month of April 2017 is estimated at 30.75 lakh bales as compared to 22.25 lakh bales arrived during the same month last year. The total arrival this season up to the month of April are estimated at 306.25 lakh bales, which constitute around 90 per cent of the total estimated crop,” CAI president Nayan C Mirani said in a statement.
For the next season 2017-18, cotton sowing has already begun in parts of Punjab, Haryana and Karnataka. Owing to prevailing high prices, the area under cotton is expected to increase this year. However, the quantum of increase can only be estimated after the onset of the monsoon, CAI said.
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