China's cotton-picking season is basically completed and cotton output is set to decline this year, according to results of the latest survey conducted by the China Cotton Association (CCA).
The association predicted that country's cotton output would reach 5.15 million metric tons (tonnes) in 2015, down 20.76 percent from last year.
The estimate also represents a drop of 70,000 tonnes from the CCA's previous forecast made a month earlier. Weakening cotton prices since the beginning of this year dampened cotton growers' planting and caused a slump of cotton planting area and output.
Currently, the benchmark May cotton contract traded on the Zhengzhou Commodity Exchange stays at about 11,300 yuan/tonne, down nearly 19 percent from the peak of 13,905 yuan/tonne in May.
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