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Informist, Friday, Sep 13, 2024

 

NEW DELHI – The US Department of Agriculture has lowered its estimate for global cotton output by 1.2 mln bales to 116.42 mln bales in September from 117.6 mln bales last month (1 bale = 217.72 kg) as lower output in the US, India, and Pakistan offset a larger output from China. The department has also reduced its estimates for consumption, trade, beginning and ending stocks, it said in a report.  

 

Global cotton consumption is projected to be 460,000 bales lower at 115.75 mln bales in September from 116.21 mln bales last month largely due to a 200,000-bale decrease in Vietnam and 100,000-bale reductions each in Bangladesh and Turkey, the report said. 

 

"World trade is lowered about 550,000 bales as reduced imports by China, Vietnam, Turkey, and Bangladesh offset an increase in India," USDA said. India's imports of cotton are projected at 2.3 mln bales, up from 2.0 mln bales last month. Meanwhile, exports are estimated at 1.3 mln bales, down from 1.5 mln bales last month, according to the report. 

 

According to the 2024-25 cotton balance sheet, beginning stocks are seen down 170,000 bales at 75.61 mln bales in September from 75.78 mln bales last month. Global ending stocks are projected lower by 1.12 mln bales at 76.49 mln bales in September, the report said. 

 

Global exports of cotton in 2024-25 are now estimated at 42.99 mln bales, down from 43.54 mln bales estimated earlier, as exports are lower for the US and India, according to the report. Production in India is seen lower at 500,000 bales at 24 mln bales, while it is unchanged for Brazil at 16.7 mln bales, the report said.  End

 

Reported by Afra Abubacker

Edited by Deepshikha Bhardwaj

 

 

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