Browse Data and Analysis

Post raises its marketing year (MY) 2024/25 cotton production estimate to 6.2 million metric tons (MMT) on record high yields of more than 2.1 MT per hectare.

Vietnam’s cotton imports for marketing year 2024/25 (MY 2024/25) are estimated at 6.8 million bales, up 4 percent over MY 2023/24 based on an expected recovery in global demand for textiles and garments by late 2024.

Turkiye’s cotton production in marketing year (MY) 2024/25 is forecast to increase to 865,000 metric tons (MT; 3.97 million bales), since farmers planted cotton on larger area in response to temporary cotton price hikes during the planting season and because of better yields compared to last MY due to better weather conditions.

The cotton production forecast for 2024/25 has been revised downward to 5.2 million bales, with the area unchanged at 2 million hectares.

Forecast MY 24/25 cotton production is 5.9 million metric tons (MMT), unchanged from the previous report and the estimate for MY 23/24. A marginally higher yield estimate of 2,014 kg/Ha offset a slightly lower planted area unchanged from the previous report at 2.93 million hectares (MHa) on lower cotton profits in regions outside Xinjiang in MY 23/24.

The 2024/25 cotton area estimate is revised downward to 2 million hectares due to a decrease in cultivation in key production areas of Punjab and Sindh. With the lower area, the production forecast is lowered to 5.55 million bales.

Vietnam’s cotton imports for marketing year 2024/25 (MY 2024/25) are forecast at 6.8 million bales, up 3 percent over MY 2023/24 based on an expected recovery in global demand for textiles and garments by mid-2024.

The global economic slowdown and illegal imports of cheaper textile products continue to hinder the growth of the Indonesian textile and textile products industry in 2023/24.

Marketing year (MY) 24/25 cotton imports are forecast at 2.4 million metric tons (MMT) on higher domestic and international demand for textile and apparel products. After a sharp decline in early 2023, exports of textile and apparel products have rebounded, along with demand for imported cotton.

Cotton production in Australia is set for a fourth successive year of high production in marketing year (MY) 2024/25, forecast at 5.5 million bales, which would be the third largest crop. The prospect of average rainfalls over the winter/spring period if realized would establish improved irrigation water availability for growers.

With expectations for no change in area, and assuming average yields, cotton production is forecast to decline in 2024/25. Given prospects for an increase in cotton textile exports, domestic use is forecast to increase in 2024/25.

Indonesian cotton imports in 2023/24 are forecast to marginally increase by 5.9 percent to 1.8 million bales compared to 1.7 million bales in 2022/23 assuming spinners will use more inventory on hand before making new purchases.