USDA – Cotton: World Markets and Trade, Jun 2025

The main theme of the report concerns the global cotton markets and trade, with a focus on import and production forecasts in China.

Key findings include a forecasted drop in China's cotton imports in 2024/25 to the lowest level in 8 years, due to high domestic production, reduced consumption, and decreased demand for state reserves. Production in 2024/25 is estimated at 32.0 million bales, up 4.7 million due to record yields in the Xinjiang Uygur Autonomous Region. Consumption is expected to fall by nearly 2.0 million bales to 37.0 million. In 2025/26, production is forecasted to decrease by 2.0 million bales to 30.0 million, while consumption remains nearly unchanged at around 37.0 million bales.