Textile mills may need 315 lakh bales
The Cotton Advisory Board, which met in Mumbai on Tuesday, said it expected cotton output to rise by almost 9% this season (October 2017 to September 2018). Last year’s production was estimated to be 345 lakh bales, which is expected to climb to 377 lakh bales this year. Imports last season stood at 30.94 lakh bales, which would likely drop to about 17 lakh bales this year.
Demand from mills
Consumption by textile mills and exports is expected to increase. Demand from textile mills is likely to be 315 lakh bales this season as against 288.86 lakh bales last season, while exports might go up to 67 lakh bales as against 58.21 lakh bales last season. Production is expected to be higher in Punjab, Haryana, Gujarat, Telangana and Andhra Pradesh. According to industry sources, cotton exports to Pakistan might be higher this year. Further, consumption by domestic textile mills will increase provided export of yarn and fabric picks up.