Cotton output estimated to be 341 lakh bales

Mumbai: The cotton output is estimated at 341 lakh bales, of 170 kgs each, for 2016-17 crop year, same as January, an industry association said in its February projection.

Cotton production stood at 337.75 lakh bales last year, Cotton Association Of India (CAI) said in a release here. CAI said, farmers continue to realise better price for their produce since the cotton prices have remained firm.

The cotton arrivals are in full swing now and gap of arrivals as compared to last year has narrowed down considerably in the preceding period, it added. The projected balance sheet drawn by the CAI estimated total cotton supply for the season at 407 lakh bales while the domestic consumption is estimated at 295 lakh bales, leaving an available surplus of 112 lakh bales.