India is estimated to consume 29.5 million bales of cotton (170 kg each), this season ending this September. Within one month of its recent estimate, Mumbai-based Cotton Association of India (CAI) has revised the estimate of India’s cotton consumption and import numbers.
While the crop estimate is to remain same as the previous estimate at 34.1 million bales (170 kg each), total domestic consumption will be slightly up by 500,000 bales (five lakh bales) and is estimated to be 29.5 million bales (170 kg each). Imports are estimated to be about 1.9 million bales.
The total supply will be about 40.5 million bales and the available surplus at the end of this season will be about 11 million bales. With the revised estimate, the available surplus will come down slightly from the previous estimate of 11.4 million bales.
According Nayan Mirani, President of CAI, arrivals have picked up and it is about 200,000 bales per day, which reflects the positive feeling among producers as they are realising good price for their crop.