Today's Challenges For No-nonsense Systems
“We can end the season with exports of 70 lakh bales,” Ganatra had said earlier adding that higher international prices would drive up shipments. Meanwhile, Confederation of Indian Textile Industry (CITI) has estimated the production of Indian cotton crop for the cotton season 2017-18 at 373 lakh bales (170 kg each) which is estimated to be 8.11% higher from the previous year owing to the increase in area under cotton cultivation by almost 13% i.e. from 108.45 lakh hectares to 122.59 lakh hectares. The estimated balance-sheet for 2017-18 shows production as 373 lakh bales, imports at 15 lakh bales and exports at 70 lakh bales. Further consumption is estimated to be 316 lakh bales (including non mill consumption of 19 lakh bales) against 306 lakh bales in 2016-17. CITI chairman Sanjay Jain has said that the high prices of cotton domestically and internationally would further force the consumption to either remain stagnant or slightly at the lower side. Therefore, consumption figures should not exceed beyond 316 lakh bales (including the non-mill consumption of 19 lakh bales). The consumption of last season 2016-17 was 306 lakh bales (including the non-mill consumption of 17.50 lakh bales).CITI has kept the opening stock of cotton for 2017-18 at 47.81 lakh bales as decided by the Cotton Advisory Board. The closing stock will be around 49.81 lakh bales which is quite sufficient for the textile sector to smoothly run their units Meanwhile, textile commissioner Kavita Gupta has advocated adoption of global practices in cotton cultivation to avoid pest attacks and improve quality of the produce.
For the original version including any supplementary images or video, visit https://www.financialexpress.com/industry/cotton-output-estimate-for-2017-18-cut-by-7-lakh-bales/1212663/
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