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The 2023–24 marketing season is anticipated to see a four-year peak in global cotton production. The total amount produced this season may total 116.7 million bales. This forecast was provided by the US Department of Agriculture (USDA) in a recent report. The USDA is considering the possibility of producing 0.4 million more bales this season than the previous one.
The top cotton-producing nations will be the major engine behind the rise in output. In this regard, Pakistan and the United States will take the lead. Both nations' production is probably going to expand dramatically. The two nations will be able to increase world production by 2 million bales. India will also make a small but significant contribution to this growth.
One of the leading cotton growers in the world is China. The production of the nation is anticipated to fall in the 2023–2024 season, which will constrain how much the global production will increase. This year's cotton sowing has been delayed in China due to the cold. In many places, cotton plants have been harmed. In addition, farmers are concentrating on other crops as arable land has shrunk as a result of government recommendations.
Hebei Xingyu Textile Material Co. general manager Guo Chao stated that "Cotton production this year is expected to decrease by about 1 million ton compared to last year." It produced 6 million tons in 2022. As a result, the production will drop by more than 15%.
The majority of cotton is produced in the Chinese province of Xinjiang, where unexpected cold weather prevents cotton cultivation. Farmers in the area have been instructed by the local authorities to improve their production of food grains. As part of the National Food Safety Initiative, this guidance is provided. Cotton cultivation has significantly diminished as a result. China's share of world production could fall from 26% to 23% this season, according to the USDA prediction.
Over the 2022–2023 season, production in India is anticipated to rise. The stakeholders in the nation are upbeat about the production despite the decline in agriculture. The amount of land for cotton cultivation in the nation has fallen to 1 lakh 24 thousand hectares as a result of increased production of alternative crops.
According to the USDA, production will also rise in Australia, Pakistan, and Brazil. Brazil's production of these might rise to 13.25 million bales, which would be a modest improvement over the 2022–2023 season. The output for this season is expected to rank second highest ever.
Pakistan's cotton production decreased to a level that is almost four decades low in the 2022–23 season. There were 3.9 million bales produced. Due to the catastrophic flooding, the country's production was affected, but analysts anticipate a turnaround this season. 5.9 million bales of production may be possible. 5 percent of the world's production will come from this nation.
In Australia, 5.8 million bales of cotton could be produced during the 2023–24 growing season. Production will rise by 0.3 million bales in comparison to the 2022–2023 season. In the 2021–22 growing season, the nation produced a record 5.85 million cotton bales. This season, production will almost certainly set new records.
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