What are the forecasts for cotton production in 2023/24?

U.S. production level and share of global trade. Ending stocks and the stocks-to-use ratio are forecast higher as well. World cotton production fell 3 percent from the year before in marketing year 2023/24, down 3.4 million bales to 112.8 million, its lowest in 7 years.

Which country produces the most cotton in 2023/24?

With this 14.6-million-bale crop, and with U.S. production diminished by poor weather in West Texas, Brazil replaced the United States as the world’s third largest cotton producer in 2023/24. U.S. production fell 2 million bales from the year before in 2023/34 to 12.4 million bales.

What is the future of cotton production?

The sum of beginning stocks and production are projected at their highest level since 2020/21 at over 200.0 million bales. Greater cotton supplies coupled with more stable operating costs for spinners, including financing and energy, are also supportive.