Cotlook’s November supply and demand forecasts indicate smaller increases in world ending stocks for 2022/23 and 2023/2
LIVERPOOL, December 1, 2023-
Cotton Outlook’s forecast of global raw cotton production in 2023/24 has this month been reduced by 519,000 tonnes, reflecting downward adjustments for China, India, Turkey and Australia. The rise is partially offset by increases for the United States and Pakistan, as a result of clearer figures as harvesting draws to a close. The estimate for 2022/23 has meanwhile been maintained.
For consumption, additions have been made to both seasons, attributed to Turkey. Thus, the margin by which output is expected to exceed consumption in 2022/23 has narrowed slightly to 2,443,000 tonnes, while the surplus for the current season has declined more significantly, to 188,000 tonnes from 787,000 last month.
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