Comments
Despite apprehensions over fall in acreage, the cotton output is expected to touch 350 lakh bales (of 170 kg each) this year, said Dhiren N. Sheth, President, Cotton Association of India.
Although the acreage under cotton has witnessed a three per cent decrease compared with last year, the crop looks promising due to good rains received in Andhra Pradesh and Maharashtra in the later part of the monsoon.
“The cotton production this year is expected to be 350 lakh bales while the cotton consumption is likely to be about 265 lakh bales, leaving a sizeable surplus of about 150 lakh bales,” he said recently at the 90th annual general meeting of the Association.
Global demand
According to the recent International Cotton Advisory Committee, Washington data, the general outlook for cotton supply and use for 2012-13 is bleak as global cotton production and mill use are forecast at 25.9 million tonnes (mt) and 23.4 mt respectively, resulting in an oversupply of 2.4 mt.
A geographical shift in cotton mill use from China to other Asian countries is currently underway, but ICAC feels that estimating its actual extent will take time due to the lag in publication of cotton consumption figures and difficulties in obtaining these data for some countries.
Cotton yarn imports by China have increased significantly since the beginning of 2012.
The ICAC currently estimates that cotton mill use will increase in 2012-13 in India, Pakistan, Bangladesh, Uzbekistan, Indonesia, Vietnam and Thailand amongst others.
After an unexpected jump in 2011-12, global cotton trade is expected to fall by 21 per cent to 7.7 mt this season due to lower Chinese demand. However, imports by the rest of the world could rebound by 18 per cent, he said.
office-bearers
The members of CAI have re-elected Sheth as President. Nayan C. Mirani has taken over as Vice-President, while Bhadresh V. Mehta will be the Additional Vice-President. Shirish R Shah has been elected as the Treasurer.
>Suresh.iyengar@thehindu.co.in
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.