Maharashtra: Low opening stock, uncertain monsoon to keep pressure on cotton prices

The CAI has retained the export outlook at 46 lakh bales for the current season. Till May, the country has already seen exports of a little over 44 lakh bales. The total imports for the last season was 69 lakh bales. The October 2018-May 2019 imports for the country, the association said, was 31 lakh bales, almost double of the 15 lakh bales for the October 2017-May 2018 season.

This year, another factor for keeping up the pressure on cotton prices in the domestic markets is the uncertainty regarding the monsoon. The IMD has maintained its normal prediction for the monsoon, although the onset is to be delayed. However, trade sources say farmers will be wary of undertaking sowing operations early, which might affect the productivity in the long run.