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Saturday, February 24, 2024

Global cotton output to reach 24.98 million tons in 2023-24 season

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.

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 25.07 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.

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.

ICAC added that final season-ending cotton stocks are expected to grow 7.91 percent to 22.92 million tons.

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