According to the ICF, Cotton Corporation of India (CCI) has been able to get consistent sale in their auction during the last fortnight and unsold stock with them was approximately 25 lakh bales.
Fresh cotton produce is making its way into areas surrounding Amreli district of Saurashtra in Gujarat and around Dharangaon in Maharashtra, Khargone in Madhya Pradesh, Hubli and Kabini Dam in Karnataka and small pockets near Adoni in Andhra Pradesh.
Based on the sowing so far across the country, it is said that the kharif cotton production estimate could be 33.5 million bales for 2015-16 as against 34.62 million bales in the previous season of 2014-15, a marginal decline due to deficient rains. Total cotton estimates vary between 370 lakh bales to 400 lakh bales of 170 kg a bale for 2015-16 season, said Indian Cotton Federation (ICF).
According to the ICF, Cotton Corporation of India (CCI) has been able to get consistent sale in their auction during the last fortnight and unsold stock with them was approximately 25 lakh bales. Mills have been saved by CCI this season as even at the fag end of the season good quality cotton is available to them at market prices.
Meanwhile, in the northern region of Punjab, Haryana and Rajasthan, the standing cotton crop has had a white fly attack problem. Due to which Punjab has allocated a compensation of R10 crore to affected farmers. The price of J-34 roller gin cotton in Punjab is R3,750 spot per maund while in Haryana J-34 r/g was quoted at R3,720 spot per maund and in Rajasthan J-34 r/g was quoted at R3,700 spot per maund.
In Gujarat, the floods in Saurashtra region have helped the water storage in various catchment areas but the severe heat conditions which followed has not been favourable to the cotton plants and may lead to drop in yield due to stunted growth of the plants.