The Cotton Association of India (CAI), which has released its April estimate of cotton crop, has further revised its estimate for the 2014-15 season (October-September) downward. CAI has placed the cotton estimates at 384.50 lakh bales of 170 kg each.
The projected balance sheet drawn by the CAI for 2014-15 estimates total cotton supply at 455.40 lakh bales while domestic consumption is estimated at 310 lakh bales, thus leaving an available surplus of 145.40 lakh bales.
Close to 90% of the total crop has already arrived into the market. However, cotton arrivals have fallen drastically during the month of April this year, according to CAI.
Arrivals during April were 27.05 lakh bales as compared to 40.00 lakh bales that had arrived during the same month last year. This constitutes a fall of about 32%.
Compared to last month i.e. March 2015, when 42.20 lakh bales had arrived into the market, cotton arrivals fell by around 36% to 27.05 lakh bales during April, 2015, Dhiren Seth, president, CAI, said.
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