Indian cotton ending stock revised sharply down on heavy exports

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Mumbai. The Cotton Advisory Board (CAB) Wednesday revised down Indian cotton ending stock estimate for 2011-12 to 2.51 million bales from 5.53 million bales projected earlier on higher exports and lower opening stocks.

The CAB raised production by 200,000 bales to 34.7 million bales and consumption forecast revised down by 800,000 bales to 25.2 million bales. Exports estimate increased by 3.1 million bales  to 11.5 million bales. While estimate for opening stock lowered by 920,000 bales to 3.91 million bales.

CAB projected imports at 6 million bales.

CAB estimates in lakh bales

Item

2011-12

April 18  

2011-12

Jan 24   

Supply

Opening stock

39.10

48.3

Crop size

347

345

Imports

6

6

Total Availability

392.1

399.3

Demand

Mill Consumption

211

216

Small-Mill consumption

21

24

Non-Mill Consumption

20

20

Total Consumption

       252

260

Exports

115

84

Total Disappearance

367

344

Carry Forward

25.1

55.3

*As estimated by CAB in its meeting held on 18-04-12

 Source: http://www.moneycontrol.com/commodity/comm_news.php?autono=175197&type=MKT


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