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Cotton output expected to climb amid high global demand for textiles
U.S. farmers are projected to sow 12 million acres for the season
beginning Aug. 1, up about 7.3% from the previous year, according to the
National Cotton Council’s planting-intentions survey released Sunday.
The possibility of more American cotton comes at a time when supplies
are tighter and global demand for textiles is sky-high, propelled by a
voracious appetite for the fiber from China, India and Mexico. Global
cotton consumption is expected to rise 2.8% this year, according to data
from the United States Department of Agriculture.
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