Cotton Association of India (CAI) has reduced its cotton crop production estimate for the 2021-22 season, which begins on October 1, by 2.33 percent in its March estimate, which was released recently. The CAI has reduced its cotton crop estimate for the 2021-22 season by 8.00 lakh bales to 335.13 lakh bales (of 170 kg each), down from 343.13 lakh bales previously.
"The CAI estimates the total cotton supply for the months of October 2021 to March 2022 at 343.68 lakh bales, which includes arrivals of 262.68 lakh bales, imports of 6 lakh bales, and an opening stock of 75 lakh bales at the start of the season," the CAI said in a release.
Furthermore, the CAI has estimated cotton consumption for the months of October 2021 to March 2022 at 175 lakh bales, while export shipments are estimated at 35 lakh bales up to March 31, 2022.
Stock is estimated to be 133.68 lakh bales at the end of March 2022, including 75 lakh bales with textile mills and the remaining 58.68 lakh bales with the CCI, Maharashtra Federation, and others, including stocks held by MNCs, traders, ginners, MCX, and cotton sold but not delivered.
The CAI Crop Committee estimated the total cotton supply until the end of the cotton season 2021-22, i.e. up to September 30, 2022, at 425.13 lakh bales, which is 8 lakh bales less than the previous estimate of 433.13 lakh bales estimated by the CAI previously.
The total cotton supply consists of opening stock of 75 lakh bales at the start of the cotton season on October 1, 2021, crop for the season estimated at 335.13 lakh bales versus the previous estimate of 343.13 lakh bales, and imports for the season estimated at 15 lakh bales versus the previous year's import estimates of 10 lakh bales.
CAI has kept domestic consumption at 340 lakh bales unchanged, while exports for the season are estimated at 45 lakh bales.
The previous cotton season's exports were estimated to be 78 lakh bales in 2020-21. The carry-over stock, which was previously estimated to be 48.13 lakh bales, is now estimated to be 40.13 lakh bales. CAI estimated the previous year's stock at 75 lakh bales for the 2020-21 cotton season.
The CAI has maintained its consumption estimate of 340 lakh bales for the current crop year 2021-22. The previous year’s consumption estimate was 335 lakh bales. "The consumption is estimated to be 175 lakh bales up to March 31, 2022," according to CAI.
