Indian ‘Cotton Ending Stock’ is likely to decrease to 75L bales: Cotton Affiliation of India, SIMA,CCI
14th July 2021,Mumbai:
India’s cotton ending stock is likely to decrease to 75 lakh bales during the present season to September as home demand has picked up. However some experts estimate stocks to remain at 120-plus lakh bales for the season.
Cotton output for 2020-21 has been revised downwards to 356 lakh bales, CCI is expected to have 18 lakh bales by the end of the season, including that many of the gross sales had been meant for home consumption.
Some commerce specialists count on mills’ consumption to prime 300 lakh bales, although Selvaraju, Secretary-Basic Okay, Southern India Mills Affiliation (SIMA) estimates the shutdown resulting from COVID pandemic to decrease the offtake beneath CCPC projections.
In its January 25 assembly, the CCPC estimated home consumption at 330 lakh bales, with mills’ offtake at 286 lakh bales. Consumption of spinning mills is likely to decrease to 270 lakh bales due to lockdown, says a SIMA official
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The Cotton Affiliation of India (CAI), the apex physique of cotton merchants, pegged home consumption at 325 lakh bales at its assembly final month, with mills’ demand pegged at 282 lakh bales.
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