USDA Raises World Cotton Estimate

WASHINGTON - Jan 12/05 - SNS -- World cotton production for 2004-05 is raised for the eighth consecutive month to 115.6 million bales, an increase of 17% over the 2001-02 record, according to the latest forecasts developed by the USDA's World Agricultural Outlook Board.

Production is raised in Pakistan, India, the United States, Australia, Sudan, and Syria, partially offset by a reduction for China. Large cotton supplies and favorable economic conditions are boosting world consumption, which is estimated higher in China, India, Brazil, and Pakistan.

With lower production and higher consumption, China's imports are raised 1.0 million bales. Higher imports by China are partially offset by reductions for Pakistan, Brazil, and India, and world trade is raised 2%. World ending stocks of 47.1 million bales are 1% above last month.

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