See the latest Cotton and Wool Outlook report.
Global 2025/26 Cotton Production Increases for Second Consecutive Year
The latest USDA cotton projections for 2025/26 (August–July) forecast global production at 121.9 million bales, a 2-percent increase from the previous season and the highest since 2012/13. The major producing countries are projected to be mixed in 2025/26, as declines in Australia, the United States, and India are more than offset by year-over-year increases in China, Brazil, and Pakistan.
Global cotton mill use is projected to decrease marginally in 2025/26 to 119.1 million bales, down 300,000 bales (0.3 percent) from 2024/25. Among the top spinning countries, China is the only country projected to have higher mill use this season while India is unchanged from 2024/25. With world production in 2025/26 exceeding the mill use estimate, global ending stocks are expected to rise 4 percent. World cotton stocks are projected at 77.0 million bales, the highest since 2019/20. Global imports are forecast at 43.7 million bales this season, up nearly 2 percent from 2024/25, as a significant increase in imports by India and China more than offsets declines in other countries.