Attaché Reports (GAIN)
Report Highlights:
Forecast MY 24/25 cotton production is 5.9 million metric tons (MMT), unchanged from the previous report and the estimate for MY 23/24. A marginally higher yield estimate of 2,014 kg/Ha offset a slightly lower planted area unchanged from the previous report at 2.93 million hectares (MHa) on lower cotton profits in regions outside Xinjiang in MY 23/24.
Consumption for MY 23/24 and MY 24/25 remains unchanged at 8 MMT and 8.2 MMT, respectively, from Post’s previous report.
Despite relatively stable to declining cotton prices in MY 23/24, growth in cotton usage remained weak due to stagnant demand from downstream industries, a result of a slow recovery of domestic and overseas demand.
Source: USDA-FAS