Stock Trading Tips | Commodity News | Poor rain hit Cotton yields this Kharif
Inadequate rains in Cotton growing area will hamper the yield for the Kharif 2018-19 season, resulting in the lower overall output of fiber crop. Farmers, therefore, have pinned their hopes on increased Cotton prices to make most from this Kharif season.
Gujarat, Maharashtra, and Karnataka, which produce about half of the country's Cotton, faced water shortage due to erratic monsoon during the sowing period. The Bt seeds, used in most of the Cotton fields, require adequate water. A deficient rainfall has adversely affected the yield of Bt Cotton.
The Centre, in its first advance estimate in September 2018, projected lower Cotton crop at 325 lakh bales (each of 170 kg), about seven percent lesser than 349 lakh bales estimated in the fourth advance estimate for 2017-18. Also, the carried overstock from the 2017-18 season was estimated to be one of the lowest in at least five years, which is further fuelling prices.
The Cotton Association of India (CAI) has projected total Cotton supply for 2018-19 up to September 30, 2019, at 390.25 lakh bales, including opening stock of 23 lakh bales and imports of 24 lakh bales, higher by nine lakh bales compared 15 lakh bales estimated for 2017-18.
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