SME Times News Bureau | 15 May, 2019
Confederation of Indian Textile Industry (CITI) chairman Sanjay
K Jain stated that the Cotton Advisory Board (CAB), had estimated the Cotton
Crop to be 361 lakh bales for 2018-19.
However subsequently based on the arrivals and crop
situation, CITI feels that the cotton crop may go as low as 343 lakh bales, he
Today, there is a great amount of uncertainty regarding the
estimation of cotton crop situation in the country causing great hardship for
value added textile industry, especially for the Spinning Industry, Jain said.
There are rumours doing the rounds in the media indicating a
very low crop estimation which is creating chaos in the market and prompting
people to stock cotton in anticipation, he added.
Chairman pointed out that drought in many cotton growing
regions of Gujarat, a few regions of Maharashtra and a few areas in other
cotton growing states has affected cotton yield.
Accordingly, CITI has revised the cotton crop estimates for
2018-19 based on the actual data collected from the cotton growing areas in the
country to 343 lakh bales of 170 kgs, the CITI chairman said.