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Informist, Monday, Jan. 13, 2025

 

 

 

MUMBAI – The US Department of Agriculture has raised its estimate for global cotton production for 2024-25 (Oct-Sept) by over 2 million bales (1 bale = 217.72 kg) to 119.4 million bales, from its estimate of 117.39 million bales last month, it said in a report. The increase can be attributed largely to a 1.8-million-bale increase in crop from China. Larger crops are also projected in Australia and the US, while production in Pakistan is said to fall, according to the department.

 

 

 

The forecast for global exports of cotton was raised by 225,000 bales, due to an increase in shipment from Brazil, Australia, and India, despite some fall in exports from the US, the report said. The forecast for global ending stocks of cotton for January has been raised by almost 1.9 million bales to 77.91 million bales as an increase in stock in China, the US, Australia, and India more than offset the reduction in Brazil. The estimate for opening stocks was steady at 74.16 million bales, the report showed.

 

 

 

 

According to the 2024-25 cotton balance sheet, the estimated total imports have been increased to 42.45 million bales. Global exports are estimated at 42.48 million bales, up from 42.26 million bales last month, according to the report. Estimates for India's imports of cotton were raised to 2.6 million bales from 2.3 million bales during the previous month, and exports were up at 1.4 million bales from 1.3 million bales last month, according to the report. 

 

In the US, estimates for production and ending stocks have been increased and those for exports reduced, while estimates for domestic use and beginning stocks were unchanged, the report said. The US cotton production is revised upward by 159,000 bales to 14.4 million bales as the national cotton yield estimate is raised 44 pounds to 836 pounds per harvested acre, reflecting a larger crop and lower harvested area, it said.

 

Most of the reduction in harvested area occurred in the southwest, while yields in numerous southeast, delta, and southwest states are expected to be higher. Projected exports are lowered by 300,000 bales to 11.0 million. Ending stocks are raised to 4.8 million bales for a stocks-to-use ratio of about 38%. The 2024-25 season average upland farm price is reduced to 65 cents per pound, according to the report.

 

The estimate for production in India was steady at 25 million bales. The production estimate for Brazil was also steady at 16.90 million bales in January.  End

 

Reported by Taniva Singha Roy

Edited by Akul Nishant Akhoury

 

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