The Cotton Advisory Board (CAB), at its first meeting for the cotton season 2015-16, has forecast production at 365 million bales of 170 kg each.

The meeting held under the chairmanship of textile commissioner Kavita Gupta deliberated the cotton scenario in the country and also discussed state-wise area, production, import, export and consumption of cotton.

According to the provisional balance sheet drawn by CAB, imports for the current season are expected to decline to 12 lakh bales compared to previous season’s import of 14.39 lakh bales, according to a press release issued by the Office of the Textile Commissioner.

Including the opening stock of 53 lakh bales, the total supply of cotton in 2015-16 is estimated at 429 lakh bales, nearly the same as 427.39 lakh bales supply in 2014-15.

On the demand side, mill consumption is expected to slightly increase to 284 lakh bales from previous season’s provisional figure of 278.55 lakh bales. Consumption by small scale units is also likely to go up from 26.28 lakh bales in 2014-15 to 28 lakh bales this season.

Cotton exports are projected to grow from 57.72 lakh bales in the last season to 68 lakh bales in 2015-16. This will result in total demand moving up to 391 lakh bales compared to 375.39 lakh bales in the previous season.

CAB expects closing stock in 2015-16 season at 38 lakh bales.