Cotton Output
USDA trims 2024-25 global cotton output estimate to 116.18 mln bales
This story was originally published at 13:07 IST on 11 November 2024
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MUMBAI – The US Department of Agriculture has lowered its estimate for global cotton output in 2024-25 (Oct-Sept) by 460,000 bales (1 bale = 217.72 kg) to 116.18 million bales, compared to its estimate of 116.64 million bales last month, due to lower output in Pakistan and Turkmenistan.
The forecast for global consumption of cotton has been lowered by 515,000 bales due to a decrease in use in Turkey and Pakistan, the report said. The forecast for global ending stocks of cotton has been reduced by 574,000 bales to 75.75 million bales as large reductions in India, Turkmenistan, and Pakistan are seen offsetting increases in the US and Uzbekistan. Similarly, the estimate for beginning stocks has been cut by 610,000 bales to 74.59 million bales, the report showed.
According to the 2024-25 cotton balance sheet, the total imports estimate has been lowered by 330,000 bales to 42.15 million bales. Global exports are estimated at 42.18 million bales, down from 42.47 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. With global consumption and imports reduced, US exports are reduced 200,000 bales to 11.3 million bales, it said.
The estimates of production in India and Brazil remain unchanged at 24 million bales and 16.8 million bales, respectively. Historically, revisions to production resulted in lower ending stocks for the 2023-24 global balance sheet. End
Reported by Sandeep Sinha
Edited by Deepshikha Bhardwaj
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