ICRA sees India year to Sep 2018 cotton output up 6% at 36 million bales.

India cotton production is likely to increase by 6% to around 36.0 million bales (1 bale = 170 kg) in 2017-18 (Oct-Sep), owing to higher acreage and forecast for normal monsoon due to a likely El Nino formation gradually waning. Expectations of higher output in the upcoming season may create a downward bias for cotton prices from July. Cotton sowing in the ongoing kharif season has already witnessed a rise in acreage compared with last year, and is likely to sustain in coming weeks. Cotton acreage in the country was up 30% on year at 2.47 million ha.