MUMBAI (Commoditiescontrol) - The U.S. Department of Agriculture (USDA) in its November estimate lowered global cotton production to 105.63 million bales (480 pounds each) from 107.38 million bales estimated a month ago.
Forecast production is reduced for India, Pakistan, China, Greece, Mali, and Mexico, based on current indications of northern hemisphere harvest results. India is estimated to see total production of around 28.50 million bales against 29 million bales and China 25 million bales compared to 25.30 million bales.
The department forecast global consumption higher in the season to 112.27 million bales from previous month’s estimate of 111.59 million bales.
China’s consumption is yet again lowered to 33 million bales from 33.50 million bales projected a month ago. Since the time China imposed restriction on its cotton imports, the world has seen a dramatic fall in consumption numbers from the world’s key consumer. Besides, China has a huge reserve stock, that it plans to reduce in times to come.
World ending stocks are projected at 106.1 million bales, nearly 6 million bales below the beginning level.
Below is USDA’s detailed supply & demand table:
(By Commoditiescontrol Bureau; +91-22-40015532)
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