Indian Cotton Sowing Completed But Still Deficient In Rainfall
Issue Time:2017-10-20

    According to the latest forecast by the US Agricultural Counselor, India's cotton production in
 2017/18 is expected to reach 30 million bales (480 pounds per bales), an increase of 1 million
 over the previous month's forecast. 2017/18 annual total supply of cotton in India is about 43.34
 million bales, total consumption is 28.7 million bales, ending stocks is 14.64 million bales,
 inventory consumption ratio is 51.02%, the highest level for nearly nine years.

    As of September 7, India's cotton cultivation has been basically completed, planting area
 reached 12.098 million hectares, an increase of 19%. As of September 12, India's cumulative
 rainfall is still a 6% shortfall, and the eastern and northeastern regions continue to rain, the
 rainfall of northwest, central and southern areas still have 8%, 10% and 3% less than the normal
 value.

    Last week, India's MCX futures contract on October 17 trading was weak, the price fell to Rs
 18300 /bale, expected will continue in the 18300-18350 rupee range shocks in the short term, or
 have the possibility of test 18888-19015 rupees.



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