Global cotton production is set to hit its highest level in seven years, driven by strong output in key countries despite regional declines.
The USDA projects global cotton production for 2024-2025 at 120.9 million bales, a 7% increase over the previous year and the highest level since 2017-2018. While production is down slightly from last month’s estimate, it remains strong. The forecast shows a mixed outlook among major producers: declines in India and Pakistan are expected, but these are offset by gains in China, Brazil, the U.S., and Australia.
Global mill use is projected to rise slightly to 116 million bales, up 1.2 million bales (1.1%) from 2023-2024. Among top spinning countries, only China is expected to see reduced use.
With production outpacing mill demand, global ending stocks are set to grow nearly 7%, reaching 78.9 million bales—the second-highest level since 2015-2016. World cotton imports are forecast at 42.4 million bales, a 4% drop from the previous year.