Aug 31 (Reuters) -Following are selected highlights from a report issued by the U.S. Department of Agriculture's Foreign Agricultural Service (FAS) post in Beijing:
"Marketing year 2023/24 cotton production is lowered to 5.9 million metric tons on reduced planted area and raised for 2022/23 to 6.68 million tons on higher planted area and reported volumes of classified Xinjiang cotton. Imports for 2023/24 are raised slightly to 1.9 million tons on lower yarn imports and People's Republic of China (PRC) issuance of 750,000 tons of additional sliding-scale import quota."
"China's textile and apparel industry continues to face significant headwinds in the form of competition from South and Southeast Asia, lackluster overseas demand, and a weakening domestic economy".
To read the full report, click: bit.ly/3sFusX4
Reporting by Marcelo Teixeira in New York; Editing by Sandra Maler