Global cotton production in the 2023-24 season which began in August is forecast to amount to 24.98 million tons.
This was informed by the International Cotton Advisory Council (ICAC) in its monthly report.
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According to ICAC, the total represents an increase of 1.46 percent compared to the estimated 24.62 million tons for the previous 2022-23 season.
But it drops 0.36 percent compared to the September projection of 25.
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07 million tons.
“Global consumption in 2023-24 is expected to decline 0.60 percent compared to the earlier season to 23.31 million tons,” the ICAC said.
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Global exports are expected to increase to 9.25 million tons in the 2023-24 season or climb by 14.76 percent over the prior season.
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ICAC added that final season-ending cotton stocks are expected to grow 7.91 percent to 22.92 million tons.
