Global cotton crop estimate revised downwards despite Uzbekistan optimism
09/12/2019
It said the most significant adjustments are for the cotton crop in the US and Pakistan, with an larger volume now expected in Uzbekistan than previously predicted. However, it added that the US crop will still be one of the largest ever.
Cotlook’s estimate of the global total is 26.2 million tonnes, 245,000 tonnes lower than earlier calculations.
Recent official figures from the US suggest output for the season will be just over 4.5 million tonnes. This would be the fifth-largest crop on record, although as recently as October estimates suggested it would be the third-largest. Lower yield in Texas is the main reason for the downward revision.
Reductions in the estimates for Pakistan, Australia and Turkey have also contributed to the lower global figure. A small increase is now expected in Brazil, and increased yield prospects in Uzbekistan have made a particular impression on Cotlook.
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