Capital Market / 11:09 , Dec 14, 2010
As per latest report from ABARE , world cotton production is forecast to increase by around 14 per cent in 2010-11 to 25.1 million tonnes in response to the relatively higher returns from cotton compared with alternatives such as corn and soybeans.
Larger cotton harvests are forecast for all major cotton producing countries, with the exceptions of China and Pakistan. In the United States, for example, the cotton harvest is complete and US production is estimated to have increased by 1.3 million tonnes in 2010-11 to 4 million tonnes.
The Indian harvest is around 60 per cent complete and cotton production is forecast to increase in 2010-11 by around 10.6 per cent to a record 5.7 million tonnes. This expected increase mainly reflects an increase in the area planted to cotton, especially increased plantings of higher yielding cotton varieties.In both Pakistan and China, weather events have adversely affected this season's cotton production to varying degrees. Despite severe floods in some cotton producing regions in Pakistan, cotton production in that country is forecast to decrease by only 0.1 million tonnes in 2010-11 to 2 million tonnes.
Chinese cotton production in 2010-11 is estimated to decline by0.5 million tonnes to 6.5 million tonnes, which would represent China's lowest lint output since 2005-06.
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