Cotton Outlook ups estimate for 2018-19 world output to 26.31 mln tn.

UK-based Cotton Outlook has increased its forecast for 2018-19 (Aug-Jul) global cotton production to 26.31 mln tn from 26.13 mln tn projected in February. A rise in Brazil’s output forecast by 50,000 tn in the upcoming year led the agency to raise its overall projection estimate. Cotton output in other producing states, too, is seen rising by 130,000 tn. Cotton Outlook has also scaled up its forecast for world consumption in 2018-19 to 26.88 mln tn from 26.71 mln tn pegged earlier, largely driven by expectation of higher demand in India and China.