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Informist, Monday, Oct. 14, 2024

 

MUMBAI – The US Department of Agriculture has raised its estimate for global cotton output in 2024-25 (Oct-Sept) by 200,000 bales (1 bale = 217.72 kg) to 116.64 million bales, compared to its estimate of 116.42 million bales last month, as higher production in China, Brazil, and Argentina are seen more than offsetting drops in the US and Spain. 

 

The forecast for global trade in cotton has been lowered by 500,000 bales due to a cut in the estimate for China's imports, which are now seen at 9 million bales, against 9.5 million bales the previous month, the report said. The forecast for global ending stocks of cotton has been reduced slightly by 160,000 bales to 76.3 million bales. Similarly, the estimate for beginning stocks has been cut by 410,000 bales to 75.20 million bales, the report showed.

 

According to the 2024-25 cotton balance sheet, the total imports estimate has been lowered by 510,000 bales to 42.48 million bales. Global exports are estimated at 42.47 million bales, down from 42.99 million bales seen last month, according to the report. Estimates for India's imports and exports of cotton remain the same as the previous month, at 2.3 million bales and 1.3 million bales, respectively. Reflecting weaker global import demand and lower production in 2024-25, the estimate for exports from the US gas been cut by 300,000 bales to 11.5 million bales.

 

The estimate of production in India is unchanged at 24 million bales. The production estimate for Brazil has been raised to 16.80 million bales from 16.70 million bales.

 

There were no significant revisions to the 2023-24 global cotton balance sheet, according to the report.  End

 

Reported by Shreya Shetty

Edited by Avishek Dutta

 

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