Monday, August 14 2006 15:13 Hrs (IST) - World Time -

Mumbai: Cotton producers in Gujarat and Maharashtra are a worried lot these days with severe floods in both the states causing production losses of around 10-15 per cent, industry sources have said.

"We estimate production losses in cotton at 10 to 15 per cent in both Gujarat and Maharashtra presently. But it could increase to even as high as 25 per cent if the rains continue," a research analyst from Kotak Commodity Services Ltd told PTI here.

Terming the situation as 'alarming', East India Cotton Association President K F Jhunjhunwala said that the exact losses could be assessed only after the rains cease and the flood situation improves.

The Cotton Textile Export Promotion Council Chairman B K Patodia said the loss in cotton production was around 10 per cent in South Gujarat, which has been most affected by the floods.

He estimated the losses to be around one to two lakh bales in both Gujarat and Maharashtra.

The estimated cotton production this year is 275 lakh bales and Gujarat is estimated to produce 100 lakh bales this year, he said.

In sugar, both the trader community and analysts have not reported any significant loss. However, analysts think the recovery could be slightly affected in Maharashtra.