Adverse weather and water scarcity have hit cotton yields in the key growing regions of Gujarat, Maharashtra and Karnataka. Due to the dry and hot weather, kapas bolls opened in the early stages this year. Farmers are getting a higher price for their crop at Rs 5,300 per quintal as against Rs 4,500 reported around the same time last year.
Record-breaking cotton arrivals were registered in October, mainly due to the absence of rain during the last 60 to 70 days in the entire cotton belt of India. Cotton consumption during October 2018 has been estimated at 27 lakh bales, while the export shipment of cotton in October 2018 has been estimated at 2.50 lakh bales.
Stock at the end of October 2018 is estimated at 20.63 lakh bales, including 16.53 lakh bales with textile mills, while the remaining 4.10 lakh bales are estimated to be held by CCI and others (MNCs, traders, ginners, etc). The carryover stock at the end of the 2018-19 season is estimated at 15.25 lakh bales.
Domestic consumption for the season has been estimated at 324 lakh bales while exports are estimated to be 51 lakh bales, 18 lakh bales lower compared to the 69 lakh bales last year.