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World Cotton Supply Tightens
WASHINGTON - Sep 12/07 - SNS -- World cotton production looks to be larger than initially expected, but will remain below year earlier levels, according to the latest forecasts by the USDA's World Agricultural Outlook Board.
Production is now forecast at 117.18 million 480 pound bales, down from 119.15 million last year. However, a smaller carry in will result in bigger decline in available supplies of cotton on world markets from 176.9 to 173.98 million bales.
Beginning stocks are reduced mainly in China and India due to adjustments in the trade estimates for 2006-07. World production is raised 1%, as larger crops in Brazil, Pakistan, the United States, and India are partially offset by lower production in the African Franc Zone, Turkey, Tanzania, and Syria.
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