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Informist, Tuesday, Aug 13, 2024

 

NEW DELHI – The US Department of Agriculture has lowered its estimate for global cotton output by 2.6 mln bales to 117.6 mln bales in August from 120.2 mln bales last month (1 bale = 217.72 kg) mostly due to lower area and production in the US and India.

 

Global cotton consumption is also projected to be 980,000 bales lower at 116.21 mln bales in August as reductions in China are largely seen offsetting changes elsewhere, the USDA said in the report. 

 

According to the 2024-25 cotton balance sheet, beginning stocks are seen down 3.5 mln bales at 75.8 mln bales in August primarily due to historical revisions in China. Global ending stocks are projected at 77.61 mln bales, down 5.0 mln bales from last month, the report said. 

 

Global exports of cotton in 2024-25 are now estimated at 43.54 mln bales, down from 44.59 mln bales estimated earlier, as exports are lower for the US, according to the report. 

 

Production in India is seen lower at 500,000 bales at 24.5 mln bales, while it is unchanged for Brazil at 16.7 mln bales, the report said.

 

India's imports of cotton are projected at 2.0 mln bales, up from 1.5 mln bales last month. However, exports are estimated at 1.5 mln bales, unchanged from last month, according to the report. End

 

US$1 = 83.96 rupees

 

Reported by Afra Abubacker

Edited by Namrata Rao

 

 

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