Cotton output estimated at 370.50 lakh bales in 2015-16: CAI

MUMBAI: Country's total cotton output has been estimated at 370.50 lakh bales for the season 2015-16 beginning October 1, an industry body said today.

This estimate is lower by 12.25 lakh bales than the crop of 382.75 lakh bales for the cotton season 2014-15, the Cotton Association of India (CAI) said in a release here.

Despite a lower crop this year, its impact will be softened by the highest-ever opening stock available at the beginning of the season 2015-16. Moreover, domestic consumption of cotton also seems to be softening, it said.

The crop damage in the northern zone due to the white- fly attack this year remains a cause of concern, it added.

The total crop estimated in the northern zone during the season 2015-16 is 47 lakh bales compared to 53.50 lakh bales last year.

The projected balance sheet drawn by the CAI estimated total cotton supply for the season 2015-16 at 463.15 lakh bales while the consumption is estimated at 325.00 lakh bales thus leaving a surplus of 138.15 lakh bales, the release added.