Overall cotton shipments are likely to cross 7 million bales in the ongoing 2017-18 marketing year (October-September). Already 6.2 million bales have been exported till May 2018, it said.
The world's biggest cotton producer is likely to have harvested 33.63 million bales of cotton in the 2016/17 season that started on Oct. 1, slightly down from 33.78 million bales a year ago, the Cotton Association of India said in a statement.
The MoU with the China Cotton Association (CCA) envisages co-operation on a host of matters relating to cotton, including regular exchange of delegations between the two trade bodies, training, information exchange and dissemination and speedy resolution of members' issues, among others, the CAI said in a release.
"This year farmers received higher prices, so they are going to raise the area under cotton. We are expecting around a 15 percent increase," said Mekala Chockalingam, chairman of the state-runÂ Cotton Corporation of IndiaÂ (CCI), the biggest cotton buyer in the country.
The cotton output is estimated at 341 lakh bales for 2016-17, an industry association said in its January projection.
Markets regulator Sebi today allowed Cotton Association of India to exit the bourse business and withdrew its recognition.
The projected balance sheet drawn by the CAI estimated total cotton supply for the crop season 2016-17 at 398 lakh bales while the domestic consumption is estimated at 309 lakh bales, thus leaving an available surplus of 89 lakh bales, CAI said in a statement.
Cotton production is estimated to be at 336 lakh bales for the cotton season 2016-17 starting October 1, on better weather conditions, Cotton Association of India (CAI) said in its first estimate.
The Cotton Association of India (CAI) has placed its April estimate of the cotton for the 2015-16 crop year at 341.50 lakh bales, 170 kgs each.
The Cotton Association of India (CAI) has placed its March estimate of the cotton crop for the 2015-16 season at 341 lakh bales (170 kgs each).
The world's biggest cotton producer is likely to harvest 34.1 million bales of cotton in the 2015/16 season, that started on October 1, down from last year's output of 38.3 million bales, added the trade body.
The projected balance sheet drawn by the Cotton Association of India (CAI) estimated total cotton supply for the 2015-16 season (which began on October 1 last year) at 432.60 lakh bales.
This estimate is lower by 12.25 lakh bales than the crop of 382.75 lakh bales for the cotton season 2014-15, the Cotton Association of India (CAI) said in a release here.
India spent 160 billion Indian rupees (USD 2.5 billion) to buy 8.7 million bales of cotton at a government-set minimum support price (MSP) in the marketing year that ended on September 30, up from just 400,000 bales in the previous year.
The total output is mainly expected to be dominated by the Central zone, including states of Gujarat, Maharashtra and Madhya Pradesh, CAI said in a release issued here. The production in the central zone is estimated to be around 203 lakh bales.
The total cotton crop stood at 407.25 lakh bales (of 170 kg each) during 2013-14, according to CAI data. The main reason for reduction in the crop estimate is untimely rain in the Central Zone that has affected the output, CAI said.
The measure is due to be considered at a cabinet meeting on Thursday, where ministers are also expected to discuss a long-delayed plan to build two semiconductor factories with government subsidies to attract some $4 billion in investment.
The Cotton Association of India (CAI) on Monday said it has estimated the cotton crop at 353.25 lakh bales for the crop season 2012-13 as against 373.25 lakh bales in 2011-12.