MUMBAI (Commoditiescontrol) - The U.S. Department of Agriculture (USDA) in its July estimate projected 2015-16 global cotton output down 6 percent at 111.5 million bales, or 7.5 million bales lower than 2014-15. Next year’s global cotton crop could be the smallest since 2009-10.
Declines in production the world over are attributed to the relative cotton prices, which forced a large chunk of growers to look at other alternatives, as per the USDA.
The USDA forecast global cotton harvested area in 2015-16 is forecast at 31.8 million hectares, 2 million hectares or 6 percent below the preceding year.
World cotton yield is estimated at 764 kg/hectare, slightly below 2014-15 and global cotton production is expected to remain concentrated among a few countries in 2015-16.
Cotton production in India in 2015-16 is expected to surpass China as the world's largest cotton producer with a crop forecast at 29.5 million bales. While, China is expected to produce 27 million bales, down 10 percent or 3 million bales from a year ago.
USDA has lowered global cotton consumption estimates for both 2014-15 and 2015-16 in the latest estimate, but remains on an upward trend as a result of world economic growth projections.
(By Commoditiescontrol Bureau; +91-22-40015534)
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