CAI cuts crop estimate by 7 lakh bales

The Cotton Association of India (CAI) has released its March estimate of the cotton crop for the season 2018-19 beginning from October 1, 2018. The CAI has estimated cotton crop for 2018-19 at 321 lakh bales of 170 kg each which is lower by 7 lakh bales than its previous estimate of 328 lakh bales made during last month. The CAI has reduced the crop estimate for Gujarat by 1 lakh bales, Maharashtra by 80,000 bales, Telangana by 4 lakh bales, Andhra Pradesh by 1 lakh bales and Karnataka by 75,000 bales whereas there is marginal increase of 50,000 bales in Tamil Nadu and 5,000 bales in Odisha. The main reason for reduction in cotton crop during this year is the scarcity of water in some states and the fact that farmers uprooted their cotton plants in about 70-80 per cent area without waiting for third and fourth pickings. Total cotton supply projected by the CAI during the period from October 2018 to March 2019 is 290 lakh bales of 170 kg each which consists of the arrival of 255.83 lakh bales up to 31st March 2019, imports of 6.17 lakh bales up to March 31, 2019 and the opening stock at the beginning of the season at 28 lakh bales.