Recovery continues in cotton production for 2017/18 with a projected 11 per cent growth due to increased area to a projected 25.4 million tonnes.
Following the sharp drop in production in 2015/16, the 2016/17 production recovered by 7pc to 23 million tonnes.
Production in the USA for the current season is expected to increase 25pc to 4.7 million tonnes, a 930 thousand increase.
India remains the world’s largest producer with 2017/18 production expected to be 6.2 million tonnes with 8.7pc growth.
The second largest producer, China, has production currently projected at 5.2 million tonnes with a 7.1pc increase.
Pakistan’s production projections for 2017/18 show a 11.5pc increase to 1.9 million tonnes.
Production increase in Turkey is estimated to grow 18pc to 829,000 tonnes.
Other major cotton producing countries are expected to have positive growth attributed to increased area and yields.
International cotton prices have continued to move upward over the last few months as the season has been underway.
From the season low of 77 cents per pound at the start of season, prices are at a season high at the end of this calendar year up to 88 cents per pound.
The current season average of 80 cents per pound is lower than the 2016/17 average of 83 cents per pound.
With a lower international price from the previous season and the rising price of competing fibres, global consumption is expected to grow.
After stagnating in 2016/17, global cotton demand is expected to increase 3pc in 2017/18 to 25.2 million tonnes.
Chinese mill use is expected to remain stable at 8.1 million tonnes, while India and Pakistan are expected to increase 3pc and 4pc respectively.
Consumption in Vietnam is expected to grow 12pc to 1.3 million tons. Moderate growth of 2-3pc is expected for other major consuming countries of Bangladesh, Turkey and the United States.