The Cotton Advisory Board (CAB) estimates cotton production for this season (October 2017 to September 2018) to be 370 lakh bales.
The board had estimated cotton production to be 345 lakh bales and exports at 59 lakh bales for the season when it had met in December.
Production estimates were lower in the beginning of the season as the board expected damage to the crop from bollworm attack. However, state governments took steps to contain the damage, said J. Thulasidharan, president, Indian Cotton Federation.
He said there was not much scope for increase in cotton exports.
He also described as conservative CAB’s closing stock estimate of 43 lakh bales. This could rise when the season ends, observed Mr. Thulasidharan.
“Cotton position is very comfortable. However, domestic cotton prices are up, reflecting the international trend. There is no reason for the textile mills to panic,” he added