Cotton output for 2016-17 expected at 341 lakh bales

MUMBAI: The cotton output is estimated at 341 lakh bales for 2016-17, an industry association said in its January projection.

Cotton production stood at 337.75 lakh bales last year, Cotton Association Of India ( CAI) said in a release here.

The CAI, however, increased cotton consumption for the ongoing crop year to 295 lakh bales against its previous estimate of 290 lakh bales.

The projected balance sheet drawn by the CAI estimated total cotton supply for the cotton season 2016-17 to be at 405 lakh bales.

Considering the domestic consumption of 295 lakh bales, total available surplus for the season works out at 110 lakh bales.

CAI said the pace of arrivals has started picking up recently and is now approaching 2 lakh bales a day as the farmers are realising better price for their produce.

The imports is estimated to decline by 3 lakh bales to 19 lakh bales from 22 lakh bales last year, the release added.