The Cotton Advisory Board (CAB) has estimated cotton production in the country during 2010-2011 (October-September) to be 312 lakh bales. This was decided at the board's meeting in Mumbai on Saturday.
According to D.K. Nair, Secretary General of Confederation of Indian Textile Industry, data of the actual arrivals in the market from October 2010 to February 2011 was now available and it was only marginally higher than last year. The total production last year was 295 lakh bales. Hence, a downward revision of the production estimate was done. (At a meeting held on January 6, the board estimated the production this year to be 329 lakh bales).
The CAB also estimated that consumption by textile mills this year would be 258 lakh bales, as against the earlier estimate of about 230 lakh bales. The exports would be 55 lakh bales and the closing stock at the end of this season was expected to be 27.5 lakh bales.
J. Thulasidharan, Chairman of the Southern India Mills' Association, said the textile mills were likely to face cotton shortage by the end of the season, especially if the arrivals for the next season were delayed.
