By admin       2018-11-27

MUMBAI, NOVEMBER 25 - The Cotton Advisory Board meeting has estimated that output will be 2 per cent lower in the 2018-19 crop season at 361 lakh bales (of 170 kg each) against 370 lakh bales logged in during the same period last year. The decline is being attributed to lower crop expectation in Gujarat and Maharashtra. The Agriculture Ministry, in its first advance estimate on September 26, had cut the crop forecast to 324 lb, 7 per cent less than the previous year. Overall supply this year is expected to be 423 lakh bales against 430 lakh bales logged last year despite higher opening stock of 47 lakh bales (44 lb) and imports of 15 lb (15.80 lb), said the CAB, after its first meeting under the Chairmanship of Sanjay Sharan, Textile Commissioner, Ministry of Textiles. The output in Gujarat is expected to drop by 12 per cent to 92 lb against 104 lb logged last year; in Maharashtra it will be down to 81 lb (85 lb). In the northern region production will rise to 60 lb (56 lb) largely driven by higher output in Haryana at 27 lb (22 lb). The output in the south will drop to 97 lb (99 lb) due to lower production in Telangana. Overall demand is expected to be stable at 382 lb against 382.44 lb, with mill consumption increasing marginally to 278 lb (276 lb) and exports pegged at 65 lb (68 lb).

Download App

# #

Member Login