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Cotton carryover seen at 5-year high of 55.5 lakh bales

Amid Covid-19 disruptions, India will witness document cotton carryover stock in the past five a long time at 55.50 lakh bales (just about every of 170 kg) for the crop year 2019-20 (Oct-September).

Trade entire body Cotton Association of India (CAI) has approximated the carryover stock of 55.50 lakh bales (lb) at the close of the season on September thirty, 2020, which signifies the future season will start out with a five-year high carryover stock.

For every the CAI knowledge, in 2014-fifteen the carryover shares of the fibre ended up reported at a high of 67.23 lb.

A increased carryover

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Business Management

Cotton trade body alleges USDA to issue misleading stock figures

Cotton trade overall body Cotton Affiliation of India (CAI) has raised critical objection more than the US Office of Agriculture’s (USDA) assessment of India’s cotton inventory positions alleging a deceptive portrayal of India’s cotton current market in the international current market.

In its India-precise Cotton and Products update for June 2020, the USDA has believed a cotton carryover inventory of 19.eight million US bales (every of 480-lb) as on July 2020. This will work out to an equivalent to about 244 lakh bales (of 170 kgs every). The CAI termed it ‘astronomically high’ figure from the reality.

“The carryover inventory

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