IBEF: January 07, 2020
India has exported 3.2 million bales of cotton during the first quarter of cotton year which started on October 1, 2019, trade body Cotton Association of India (CAI) said, expecting to hit the total export of cotton around 42 lakh bales till September 2020.
"Cotton export shipments from 1st October 2019 to 31st December 2019 which have already been shipped are estimated at 10 lakh bales while balance 32 lakh bales are expected to be shipped during the period from 1st January 2020 to 30th September 2020. Total exports estimated during the entire season are 42 lakh bales," said CAI.
According to CAI, consumption by Indian spinning mills for three months i.e. from 1st October 2019 to 31st December 2019 was estimated at 30.89 lakh bales. CCI, MNCs, Ginners and MCX are estimated to have stock of about 37 lakh bales as on 31st December 2019 which is equal to about 39 lakh running bales. Thus, the total stock held by Spinning mills and stockists is estimated at 67.89 lakh bales of 170 kgs each which is equal to about 72 lakh bales, as on 31st December 2019. Closing stock is estimated at around 30 lakh bales of 170 kgs each by the committee, as on 30th September 2020.
As estimated by CAI previously, there is no change in the projection of cotton export for the season which is retained at 42 lakh bales along with projection of import of cotton which is retained at 25 lakh bales. The imports, however, is lower by 7 lakh bales as compared with the last year's estimates. "Shipment of imports from 1st October 2019 to 31st December 2019 which have reached Indian Ports are estimated at 6.50 lakh bales while balance 18.50 lakh bales are estimated to arrive Indian Ports during the period from 1st January 2020 to 30th September 2020 (total imports estimated during the entire season are 25 lakh bales)," the trade body said.
The yearly consumption is estimated by the CAI at 331 lakh bales i.e., same as estimated by the Cotton Advisory Board at its meeting held on 28th November 2019. Indian cotton arrivals during the months of October 2019 to December 2019 are estimated at 125.89 lakh bales.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.