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USDA's WASDE Report Projects Increase in Global Cotton Production and Consumption

2023-24 Production and Consumption Estimates

The World Agricultural Supply and Demand Estimates (WASDE) report, published by the World Agricultural Outlook Board (WAOB) of the United States Department of Agriculture (USDA), estimates that global cotton production in the 2023-24 crop year will increase by 218,000 bales, reaching 124.26 million bales.

According to the WASDE report, global cotton consumption is also expected to increase by 1.2 million bales in 2023-24, reaching 125.36 million bales. Domestic use in the United States is forecast to rise by 50,000 bales from the previous month.

2024-25 Production and Consumption Forecasts

For the 2024-25 crop year, the WASDE report projects a further increase in global cotton production, forecasting an additional 1.14 million bales, reaching 125.4 million bales.

Global cotton consumption is also anticipated to continue rising in 2024-25, with the WASDE report estimating an increase of 1.2 million bales, reaching 126.56 million bales.