The Cotton Advisory Board (CAB) estimates cotton production in 2011-12 (October-September) to be 355 lakh bales.
The provisional estimate of cotton production in 2010-11 is 325 lakh bales. Consumption by the domestic industry is expected to be 253 lakh bales this year and 281 lakh bales next year and exports to be 70 lakh bales (2010-11 and 2011-12).
The closing stock next season is expected to be 56.5 lakh bales.
According to D. K. Nair, Secretary General of Confederation of Indian Textile Industry, this is a preliminary estimate for the forthcoming season.
The domestic textile industry will appeal to the Union Government to permit cotton exports next season only from January 2012 under the free list so that the textile mills here have better purchase options at the beginning of the season. International cotton production is expected to be higher next year.
Cotton price (Shankar-6 variety) on Tuesday was about Rs.38,000 a candy and was expected to come down, he said.