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Tightening World Cotton Supplies Forecast
WASHINGTON - Sep 12/02 - SNS -- The USDA expects the world's supply of cotton to drop across the 2002-03 marketing year in response to lower production levels this year.
In their latest outlook report, USDA economists said the 2002-03 world supply and demand estimates also feature lower production and ending stocks. World production is reduced 1%, as reductions for Australia, the United States, Brazil, the African Franc Zone, and Central Asia are partially offset by an increase for India. With world consumption and trade nearly unchanged, ending stocks are reduced 1.5% to 39.2 million bales.
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