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Marginal Drop in Cotton Surplus
WASHINGTON - Nov 9/07 - SNS -- This month's world cotton supply and demand forecasts show lower production and consumption, higher trade, and marginally lower ending stocks compared with last month, according to the latest forecast from the USDA's World Agricultural Outlook Board.
Production is reduced nearly 1.0 million bales to 119.36 million as lower production in Pakistan, Sudan, and Turkey is partially offset by higher production in the United States and Uzbekistan.
Consumption is reduced in India as the strengthening currency is slowing textile exports. At the same time, recent Pakistan government data indicate that Pakistan's consumption growth in 2006-07 and 2007-08 is stronger than previously estimated. World trade is raised slightly as significantly higher imports by Pakistan are partly offset by lower imports by China.
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