Cotton export likely to remain 42 lakh bales: CAI
Cotton Association of India (CAI) has hoped that the coronavirus outbreak would not have much impact on exports of cotton. As per it, the overall export of the cotton for this season is expected to remain at 42 lakh bales. The cotton season begins from October. India had shipped only 8 lakh bales to China last year and this year we have already shipped 6 lakh bales till February end. Atul Ganatra, President, CAI was reportedly said that the pick-up in demand from other markets like Bangladesh may keep the exports at the same level as last year and the association is estimating exports for this season to be at 42 lakh bales. Till February-end, exports to Bangladesh remained at 14 lakh bales, Vietnam and Indonesia 5 lakh bales and to other markets 2.50 lakh bales. He further expressed hope for achieving its target as there are six more months remaining this season. Further, the association has estimated cotton consumption during October 2019 to February 2020 at 133 lakh bales, while the export shipment is estimated at 27.50 lakh bales till February. CAI has estimated exports for the season at 42 lakh bales, the same level as estimated in the previous year. Stock at the end of February 2020 is estimated at 137.93 lakh bales including 40 lakh bales with textile mills and remaining 97.93 lakh bales with CCI and others (MNCs, traders, ginners among others).