Cotton Outlook (Cotlook) has downgraded its view for world Cotton production in the 2016/17 season by 351,000 tonnes to 21.9 million tonnes. The change, attributable to reductions for several major producing countries including India, China and Brazil, was partially offset by an increase for the United States.
Production in India is estimated to decline by 170,000 tonnes to 6.03 million tonnes in 2016-17 season. Outlook for China and Brazil, both reduced by 100000 tonnes to 4.47 million tonnes and 1.13 million tonnes, respectively.
World stock levels for 2016-17 are now expected to contract by roughly 1.3 million tonnes, compared with 966,000 one month ago.
Production outlook for the current 2015-16 season has also been adjusted downward to 20.72 million tonnes, owing primarily to a change in China. World stock levels are estimated to decline by 2.176 million tonnes in 2015-16 as compared to the previous estimate of 2.026 million tonnes.