Indian Cotton Consumption to Increase Slightly
Mumbai-based Cotton Association of India (CAI) has revised its estimate of India’s cotton consumption and import numbers for the season ending in September.
While the crop estimate is to remain unchanged at 34.1 million bales (170 Kgs 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 Kgs 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 is expected to 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 to CAI President Nayan Mirani, arrivals have increased to about 200,000 bales per day. This reflects the positive feeling among producers, as they are realizing good prices for their crop.