By admin       2018-03-26

The forecast came hours after Cotton Outlook, the analysis group behind the Cotlook A, forecast a world cotton production shortfall of 583,000 tonnes (2.68m bales) next season – well below the 5.9m-bale deficit expected by the USDA. Cotton Outlook forecast world demand next season at 26.71m tonnes (122.7m bales) in line with the USDA estimate. But global production, at 26.13m tonnes (120.0m bales) was seen some 650,000 tonnes (3m bales) ahead of the USDA forecast. The Cotton Outlook data included an estimate of a 4.51m-tonne (20.7m bale) US harvest, and a 6.46m-tonne (29.7m bale) Indian crop. The USDA forecast India’s production at 27.5m bales, a drop of 1m bales year on year, seeing a falli in sowings

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