CAI lowers cotton forecast to 374 lakh bales in 2013-14

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NEW DELHI, FEB 11:

Cotton industry body CAI has lowered marginally its production forecast of the commodity to 374 lakh bales for the current marketing year.

In its earlier December estimate, the Cotton Association of India (CAI) had pegged the output at 376 lakh bales of 170 kg each. Cotton production in 2012-13 marketing year (October- September) stood at 356.75 lakh bales.

“The production of cotton crop for 2013-14 season beginning October 1, 2013, is estimated at 374 lakh bales,” CAI said in its latest estimates.

Acreage of cotton in the current season (2013-14) has come down slightly to about 118 lakh hectares as compared to 120 lakh hectares in the last season.

“Production will be higher in the current season despite lower acreage, as there was good monsoon this year and acreage in Gujarat has gone up substantially,” CAI President Dhiren Sheth said.

Arrivals till December in the current season were up by 16.8 per cent to 119.75 lakh bales compared to 102.50 lakh bales in the same period last season.

Cotton production in Gujarat is set to jump to 118 lakh bales from 86.50 lakh bales during the period under review.

The output is expected to go up in Maharashtra also, while in Andhra Pradesh and Punjab, it is estimated to come down slightly.

The government has pegged cotton production at 353 lakh bales for 2013-14 and has raised minimum support price (MSP) for cotton to Rs. 3,700 per quintal from Rs. 3,600 per quintal in 2012-13.

The Hindu

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