Mali cuts cotton output forecast by 11% for 2022/23
BAMAKO, Nov 29 (Reuters) -Mali has revised its cotton output prediction for the 2023/24 season down to 690,000 tonnes, compared to 780,000 tonnes announced previously, the state cotton company CMDT said on Wednesday.
The West African country is set to recover from a lower forecast than usual for 2022/23 due to bad weather and pests.
A ministry report said in May that it expected to produce 780,000 tonnes of cotton for the current 2023/24 season.
But that estimate has been cut to 690,000 tonnes due to rot and lack in rain in certain cotton-producing areas, CMDT spokesman Dramane Konate said via telephone.
He added that expected output could still increase before the end of the season, which runs from April to April.
Mali produced 389,700 tonnes of cotton in 2022 compared to 777,120 tonnes the previous year.
Reporting by Tiemoko Diallo
Writing by Sofia Christensen Editing by Sandra Maler
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
