The Committee on Cotton Production and Consumption (COCPC), at a recent meeting, estimated cotton production this season, ending September, at 323 lakh bales and exports 27 lakh bales.
The Cotton Association of India (CAI), however, said production will be 309 lakh bales mainly because it expects production in Telangana to be 34 lakh bales against 48 lakh bales estimated by the COCPC. “We get the cotton-pressing data from the Telangana ginners association. Telangana production this year is higher than last season. But, it is not high as estimated by COCPC,” CAI president Atul Ganatra said.
Indian cotton prices were lower in December and January compared with the international prices and so almost 15 lakh bales were shipped till the end of last month. The Indian cotton prices have increased and only the contracts entered earlier will be shipped this month. So, exports will be 20-22 lakh bales this season, he said.
S. K. Sundararaman, chairman of the Southern India Mills Association (SIMA), advised the textile mills to avoid panic buying based on various estimates. Cotton price increased from ₹55,300 a candy to ₹61,500 per candy of 355 kg last month though the supply position is comfortable.
The Cotton Association of India (CAI), however, said production will be 309 lakh bales mainly because it expects production in Telangana to be 34 lakh bales against 48 lakh bales estimated by the COCPC. | Photo Credit: rvimages
The Cotton Corporation of India is prioritising supply to textile mills, especially the smaller units. It has high quality cotton with it and so there is no need for panic in the market, he said.
