Mumbai, Apr 10 (PTI) The Cotton Association of India today revised estimates of cotton production for the ongoing 2017-18 season at 360 lakh bales of 170 kgs each, 2 lakh lower than its previous estimate of 362 lakh bales made in March.

The decline was due to lower production of one lakh bales each in the states of Maharashtra and Karnataka in the current cotton season (October 2017-September 2018), according to a statement issued here.

The projected balance sheet drawn by the CAI has estimated total cotton supply for the season at 410 lakh bales of 170 kgs each, which includes the opening stock of 30 lakh bales at the beginning of the season and the imports which the CAI has retained at 20 lakh bales as in the previous month.

The association has estimated domestic consumption at 324 lakh bales, while the exports for the season are estimated at 65 lakh bales, which is higher by 5 lakh bales than the its estimate of the previous month as the country is now witnessing a good export demand.

The carry-over stock at the end of 2017-18 season is estimated by the association at 21 lakh bales, which is lower by one lakh bales of 170 kgs each than its earlier estimate made last month.

The cotton arrivals up to March 31 is estimated at 287 lakh bales as per the data received by the CAI from upcountry associations and various other trade sources.

This is published unedited from the PTI feed.