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World Cotton Supplies Ease
WASHINGTON - Nov 12/04 - SNS -- World cotton production will likely be greater than initially expected, according to the latest estimates from the USDA's World Agricultural Outlook Board.
The USDA said world beginning stocks are raised 2.0 million bales, including a 1.6-million-bale increase in China's stocks. China's ending stocks are revised beginning in 1991-92, due to recent evidence which suggests that historical stocks were larger than previously estimated.
Beginning stocks also are raised for Australia, due to revisions in production estimates beginning in 2001-02. World 2004-05 production is raised in sixteen countries, most notably the United States, Pakistan, Argentina, Uzbekistan, and the African Franc Zone region; production is reduced only in Brazil, Turkey, and Paraguay.
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