MUMBAI (Commoditiescontrol) - China’s 2015-16 cotton output is pegged at 5.5 million tons compared to 5.86 million tons estimated earlier, as per China Cotton Association (CCA). In the 2014-15, the country produced 6.5 million tons of cotton.
Most of the decline in output will come from the lower planted areas across China, which is estimated to fall by 24 percent, it said, following a monthly survey of farmers. Heat in recent weeks in China's top growing region, Xinjiang, had evoked concerns about a potential crop damage.
However, the association noted that a smaller crop is unlikely to support global prices, with imports expected to be restricted by the Chinese government quotas and sufficient domestic supply.
In addition to the upcoming crop, China's state reserves hold an estimated 11 million tons of fibre, which the government is auctioning gradually in domestic markets.
(By Commoditiescontrol Bureau; +91-22-40015532)
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