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USDA predicts 5% fall in global cotton production in 2023-2024

15/09/2023

The US Department of Agriculture (USDA) has said it projects a fall of 6.3 million bales in global cotton production in the season from August 2023 to July 2024.

In its most recent Cotton Outlook report, published on September 14, USDA predicted that global production for 2023-2024 would 112.4 million bales, a fall of 5% year on year. USDA said China, India and the US would “lead the global production decline”.

In the report, it predicted that the US would produce 13.1 million bales in 2023-2024, down by 1.3 million, or 9%, compared to the season just ended.

But it added that cotton mill use across the world would increase in 2023-2024, going up by 5 million bales to reach 115.9 million, a rise of 4.5%.

 

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