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Higher World Cotton Crop Seen
WASHINGTON - Jul 12/04 - SNS -- Higher production and beginning stocks are boosting 2004-05 world cotton supplies relative to last month., according to the latest supply and demand outlooks developed by the USDA's World Agricultural Outlook Board.
Late-season adjustments are raising 2003-04 ending stocks, mainly for Brazil, India, Mexico, and Turkey. Production for 2004-05 is forecast 1.0 million bales higher in China based on recent evidence of higher planted area, especially in the high-yielding far Western region.
In addition to the United States and China, production also is increased in India, and Uzbekistan, but reduced in Australia and Greece.
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