LIVERPOOL, April 25, 2024-

Cotton Outlook’s estimate of global raw cotton production in 2023/24 has been lowered by 8,000 tonnes in the past month, as an increase for Brazil was more than offset by declines for smaller producing countries. Conversely, our forecast of output for 2024/25 has been raised by 334,000 tonnes, owing to improved prospects in Brazil, the United States, and others.

Our consumption figures are meanwhile unchanged, in the absence of any notable signs of improved downstream demand. Therefore, the margin by which production is expected to exceed consumption in the current season has narrowed slightly from last month’s estimate to 593,000 tonnes. For 2024/25, global ending stocks are forecast to rise by 429,000 tonnes, up from the 95,000 put forward in March.

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