Agri. & Commodities
India to remain second largest cotton producer in FY08

Mumbai, Oct. 1 (PTI): For the second consecutive year, India is expected to remain second-largest cotton producer in the world with 51,17,000 tonnes, followed by China who is expected to produce 70,76,000 tonnes in FY08.

India has emerged as the world's second largest cotton producer in FY07, edging past the US, which held the second rank until recently, according to the industry estimates.

Asia dominates the global cotton sector in terms of both output and use. China, India and Pakistan account for half of the world's cotton production and two-thirds of world cotton consumption. Pakistan is the world's fourth largest producer and third largest consumer.

The US Department of Agriculture (USDA) recently estimated that in FY08, Indian cotton output is estimated at 51,17,000 million tonnes as against 47,46,000 tonnes in the previous year.

The US is expected to produce 38,78,000 tonnes, down from previous year's 47,00,000 tonnes. While the US saw some cotton areas being switched to grains as the latter's price hit multi-year highs in the commodities in the last two years.

Pakistan and Brazil are expected to remain on fourth and fifth position with cotton production of 23,95,000 tonnes and 14,81,000 tonnes respectively in FY08, USDA said.

Agri. & Commodities

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