At the previous meeting of the board held in November 2011, exports were estimated at 80 lakh bales.
According to Southern India Mills’ Association, cotton production estimates for the 2011-12 cotton season were brought down to 345 lakh bales at the meeting on Tuesday as against the earlier estimate of 356 lakh bales.
With the domestic yarn market indicating revival, consumption by textile mills is also expected to go up to 240 lakh bales this year as against the earlier estimate of 230 lakh bales.
This is the second meeting of the board for this cotton season and an indication of exports, production and consumption will help stabilise cotton prices, says the Chairman of the association S. Dinakaran.
The Cotton Yarn Advisory Board meeting was also held in Mumbai on Tuesday.