Cotton arrival for November is expected to be 77 lakh bales, according to the Cotton Association of India (CAI).
The November month arrivals as well as the monthly cotton balance sheet have been released by CAI.
The CAI estimated total cotton supply at 154.76 lakh bales of 170 kgs. each in its monthly balance sheet for November 2021, which includes arrivals of 77.76 lakh bales of 170 kgs. each, imports of 2 lakh bales of 170 kgs. each during the month of November 2021, and Opening Stock of 75 lakh bales of 170 kgs. each at the start of the season on October 1st, 2021.
Cotton consumption is expected to be 55.83 lakh bales of 170 kg each in October and November 2021, according to the CAI, while cotton export shipping is expected to be 7.00 lakh bales of 170 kg each in October and November 2021.
“At the end of November 2021, the stockpile is expected to reach 91.93 lakh 170 kg bales. On November 30, 2021, mills’ cotton stock in their godown was projected to be 56.00 lakh 170 kg bales. The mills keep 60 days‘ worth of stock in their godowns on average “CAI stated a statement.
As of November 30, 2021, the CCI, Maharashtra Federation, MNCs, Ginners, Traders, and Exchanges are anticipated to hold a combined stock of 35.93 lakh 170 kg bales. “Thus, the total stock held by spinning mills and stockists on 30th November 2021 with CCI and Maharashtra Federation as calculated by the CAI works out to 91.93 lakh bales of 170 kgs each,” the statement added.
The CAI has projected that the cotton crop for the entire cotton season 2021-22, which begins on October 1, 2021, will be 360.13 lakh 170 kg bales.