In its first estimate of the new growing season, the International Cotton Advisory Committee forecast a world crop of 23.4 million tons, up 2 percent from 2016/17 due to larger plantings around the world. The intergovernmental group estimated U.S. cotton production would rise by 7 percent, a much larger increase than USDA’s projection of a 2 percent upturn.
“Following a season of higher-than-expected yields and firm cotton prices, cotton area in the United States is expected to expand by 10 percent to 4.2 million hectares (10.4 million acres) in 2017/18,” said the ICAC monthly report. “In 2017/18, production in the United States is projected to rise by 7 percent, to 4 million tons, assuming an average yield of 935 kg/ha (kilograms per hectare).”
By comparison, USDA has projected that this year would see a 5 percent increase in cotton plantings and a 2 percent increase in production, based on conditions in November. The USDA will update its projections later this month.
Worldwide, cotton plantings are expected to grow by 5 percent, to 30.6 million hectares, after two seasons of decline,” said ICAC. Yields would decline by 2 percent, somewhat offsetting the larger area.