Cotton output estimated at 362 lakh bales in 2015-16: CAI

MUMBAI: The total cotton output in the country is estimated to be 362 lakh bales for the 2015-16 season, which began on October 1, industry body CAI said today.

This estimate is 8.50 lakh bales lower than the October estimate of 370.50 lakh bales, the Cotton Association of India (CAI) said in a release here.

The total output for the cotton season 2014-15 stood at 382.75 lakh bales, it added.

CAI has also estimated reduction in the production as well as consumption of cotton in the country during the cotton season 2015-16.

The decline in consumption is expected to offset the decrease in cotton production to some extent, CAI said.

Crop damage in the northern region due to the whitefly attack this year remains a cause of concern, the association said.

The total crop estimated in the northern zone during the season 2015-16 is 43 lakh bales, down from 53.50 lakh bales last year.

The projected balance sheet drawn by CAI estimated total cotton supply for the season 2015-16 at 454.65 lakh bales while the domestic consumption is estimated at 318 lakh bales, thus leaving an available surplus of 136.65 lakh bales.

The Cotton Corporation of India ( CCI) has successfully concluded sales of the entire quantity of cotton procured by it under the minimum support price (MSP) operations during the crop year 2014-15, CAI added.