Core Viewpoint - The agricultural cooperation between China and Tajikistan, particularly in cotton production, has significantly improved local livelihoods and transformed the industry from raw material export to high-value product export [1][2]. Group 1: Agricultural Development - The cotton yield in Tajikistan has increased from approximately 100 kilograms per mu to over 400 kilograms per mu due to the implementation of Chinese agricultural technology [2]. - The establishment of the Dangara Agricultural Textile Industrial Park has created a full industrial chain from cotton planting to garment production, enhancing local employment and income [1][2]. Group 2: Local Impact - Local residents, including young people, are benefiting from professional training and stable employment opportunities, reducing the need to migrate for work [2]. - The presence of the industrial park has fostered a sense of pride among local workers, who now view employment in the park as a prestigious opportunity [2][3]. Group 3: Skills Development - Workers in the industrial park are gaining valuable skills, with many transitioning from manual labor to technical roles, thanks to training provided by Chinese experts [3]. - The involvement of women in the workforce has increased, with many women now pursuing careers in textile and garment production, which was previously uncommon [2][3].

Core Viewpoint - Domestic cotton prices are under pressure due to expectations of a bumper harvest, while international cotton prices are facing downward pressure following the Federal Reserve's interest rate cut [1] Supply Summary - The global cotton production outlook is optimistic, with the U.S. cotton harvest beginning and a ginning rate of 50% as of September 14, which is a 10 percentage point increase from the previous week but a 3 percentage point decrease from the same time last year [1] - India's cotton production is also expected to increase, with the Cotton Association of India predicting a total production of 5.53 to 5.78 million tons for the 2025/26 season, representing a growth of approximately 4% to 9% compared to the previous year [1] - In Australia, abundant rainfall has led to the completion of 85% of new cotton processing, with expectations that it will be fully completed by early October [1] Demand Summary - Recent cotton demand has been weak, with Brazil's cotton exports in August dropping to 77,500 tons, a year-on-year decrease of 30.7% [1] - As of the week ending September 11, U.S. cotton export contracts totaled 47,700 tons, a decrease of 18,000 tons from the previous week, with a cumulative total of 254,600 tons for the year [1] - The export shipment volume was 27,900 tons, down 3,000 tons from the previous week, with a cumulative total of 187,500 tons for the year [1] Market Pressure - The global cotton market is experiencing increased supply pressure and weak demand, leading to downward pressure on international cotton prices [1]

1. Report Industry Investment Rating - The report gives a bearish outlook on the cotton industry, expecting short - term weak and volatile trends [5]. 2. Core Viewpoint of the Report - New cotton is about to be listed in large quantities with strong expectations of a bumper harvest, which exerts pressure on cotton prices. On the other hand, the industrial chain inventory has dropped to a low level, and the domestic cotton commercial inventory is at a historical low. Seasonal replenishment provides support at the bottom. It is expected to be mainly weak and volatile in the short - term, with support at around 13,500 yuan/ton. It is advisable to wait and see on a single - side basis and buy far - month contracts after the market drops to an appropriate level [5]. 3. Summary According to the Directory 3.1 01 Week - on - Week Core Points and Strategies - **Supply**: The 2025/26 US cotton production is 2.879 million tons, a year - on - year decrease of 8.2%, with the final output estimated to be between 2.85 - 3 million tons. The 2025/26 Chinese cotton production is 7.08 million tons, a year - on - year increase of 1.5%, and there is still room for the USDA to raise its forecast [5]. - **Demand**: The 2025/26 Chinese cotton consumption is 8.38 million tons, a year - on - year decrease of 1.2%. Domestic downstream consumption is sluggish, but there are signs of marginal improvement in current downstream orders. As of September 19, the spinning mill operating rate is 66.6% (66.5% last week), and the weaving mill operating rate is 37.9% (38% last week) [5]. - **Inventory**: As of the end of August, the domestic cotton commercial inventory is 1.4817 million tons, a decrease of 708,100 tons from the end of July and a year - on - year decrease of 30.9%. As of September 19, the raw material inventory available days of textile enterprises is 10.86 days (11.63 days last week), and the yarn inventory days of spinning mills is 30.4 days (30.6 days last week) [5]. - **Warehouse Receipts**: As of September 19, the registered warehouse receipts of Zhengzhou cotton are 4,232, with 12 valid forecasts, and the total of warehouse receipts and valid forecasts is 169,700 tons (200,600 tons on September 12) [5]. - **Basis**: As of September 19, the spot price of Xinjiang cotton is 15,250 yuan/ton, the closing price of the main CF2601 contract is 13,735 yuan/ton, and the Xinjiang cotton basis is 1,515 yuan/ton [5]. - **Cost**: The overall planting cost of self - owned land has decreased slightly. The cost of cotton planting on rented land is equivalent to a seed cotton price of 6.0 - 6.2 yuan/kg, equivalent to about 13,500 - 13,600 yuan/ton on the futures market. The overall average cost of ginning plants in the new year is expected to be 14,700 - 14,800 yuan/ton, and the opening purchase price is not expected to be high [5]. - **Macro**: In the US, the number of initial jobless claims last week dropped significantly to 231,000, a decrease of 32,000 from the previous week, the largest decline in nearly four years. Retail sales in August showed strong growth, but tariffs and a weak employment market pose downward risks. The US consumer confidence index in September continued to decline, reaching the lowest level since May. On September 17, the Fed cut interest rates by 25 basis points. In China, waiting for the Politburo meeting in October, domestic demand - side policies are continuously strengthening, which is expected to support the medium - and long - term demand for domestic cotton [5]. 3.2 02 Week - on - Week Data Charts 3.2.1 Global Cotton Supply - Demand Balance Sheet (USDA) - In 2025/26, the global cotton production is 25.62 million tons, a year - on - year decrease of 1.3%, and the total consumption is 25.87 million tons, a year - on - year decrease of 0.26% [9]. 3.2.2 US Cotton Supply - Demand Balance Sheet (USDA) - In 2025/26, the US cotton production is 2.879 million tons, a year - on - year decrease of 8.2%, with the final output estimated to be between 2.85 - 3 million tons. Consumption is 370,000 tons, remaining flat year - on - year [10]. 3.2.3 Chinese Cotton Supply - Demand Balance Sheet (USDA) - In 2025/26, Chinese cotton production is 7.08 million tons, a year - on - year increase of 1.5%, and there is still room for the USDA to raise its forecast. Consumption is 8.38 million tons, a year - on - year decrease of 1.2% [11]. 3.2.4 Chinese Cotton Supply - Demand Balance Sheet (BCO) - In 2025/26, the estimated production is 7.42 million tons, close to the general expectation of 7.5 million tons. Imports are expected to increase by 34% year - on - year, different from the USDA's forecast of flat imports. Consumption is similar to the USDA data, showing a slight year - on - year decrease, not overly pessimistic. The inventory - to - consumption ratio is expected to increase by 6.03% year - on - year [13]. Other Data - **Domestic New - Year Planting**: The new - year planting area has expanded, maintaining a pattern of loose supply. According to different surveys from February to June, the national planting area and Xinjiang planting area show varying degrees of year - on - year increases, while the national and Xinjiang cotton yields show different degrees of year - on - year decreases [19]. - **Cotton and Yarn Imports**: Cotton import volume is low, and spinning enterprises are looking forward to import quotas [21]. - **Enterprise Inventories**: As of September 19, the raw material inventory available days of textile enterprises is 10.86 days (11.63 days last week), and the yarn inventory days of spinning mills is 30.4 days (30.6 days last week) [27]. - **Enterprise Operating Rates**: As of September 19, the spinning mill operating rate is 66.6% (66.5% last week), and the weaving mill operating rate is 37.9% (38% last week) [5]. - **Chinese Cotton Commercial Inventory**: As of the end of August, the domestic cotton commercial inventory is 1.4817 million tons, a decrease of 708,100 tons from the end of July and a year - on - year decrease of 30.9%, at a historical low [39].

Group 1: Report Summary - The price of the main Zhengzhou cotton 2601 contract decreased this week, with a weekly decline of about 1.01%. The price of the US cotton December contract increased, with a weekly increase of about 0.09%. The price of the cotton yarn futures 2511 contract decreased, with a decline of about 0.55% [5][11][22] - The US 2025/26 annual upland cotton net export signing volume increased, while the shipment volume decreased. The estimated total cotton output in China in 2025 is 721.6 million tons, a year-on-year increase of 8.3%, hitting a new high since 2013. With new cotton being sparsely available and the downstream peak season not evident, the short-term support for cotton prices has weakened [5] - Operationally, the Zhengzhou cotton 2601 contract should be treated with a short-term bearish mindset. Future trading should focus on changes in foreign cotton prices, demand, and inventory levels [6][7] Group 2: Futures and Spot Market US Cotton Market - As of September 9, 2025, the non-commercial long positions in US cotton futures were 70,171 lots, a decrease of 301 lots from the previous week; the non-commercial short positions were 121,505 lots, an increase of 2,821 lots from the previous week; the net short positions were 51,334 lots, an increase of 3,122 lots from the previous week [11] US Cotton Export and Spot Price - As of the week ending September 4, the net increase in US cotton export sales for the current year was 129,600 bales, a 47% decrease from the previous week and a 33% decrease from the average level of the previous four weeks. The current international cotton spot price is 79.1 cents per pound, an increase of 1.25 cents per pound from the previous week [16] Futures Market - The net positions of the top 20 in cotton futures were -19,591 lots, and the net positions of the top 20 in cotton yarn futures were -477 lots. The number of Zhengzhou Commodity Exchange cotton futures warehouse receipts was 4,232, and the number of cotton yarn futures warehouse receipts was 0 [28][34] Spot Market - As of September 19, 2025, the spot price index of cotton 3128B was 15,283 yuan per ton, and the spot price index of Chinese cotton yarn C32S was 20,765 yuan per ton [42][53] Imported Cotton (Yarn) Cost and Profit - As of September 18, the import cotton sliding duty price was 14,305 yuan per ton, an increase of 129 yuan per ton from the previous week; the import cotton quota price was 13,527 yuan per ton, an increase of 208 yuan per ton from the previous week. The estimated profit of imported cotton sliding duty was 1,005 yuan per ton, a decrease of 105 yuan per ton from the previous week; the estimated profit of imported cotton quota was 1,783 yuan per ton, a decrease of 184 yuan per ton from the previous week [57][60] Group 3: Industrial Chain Supply Side - As of the end of August, the national commercial cotton inventory was 1.4817 million tons, a decrease of 708,100 tons from the previous month, a decline of 32.34%. As of July 31, the industrial cotton inventory was 898,400 tons, a month-on-month increase of 1.85% [63] - In July 2025, China's cotton import volume was 50,000 tons, a month-on-month increase of 66.67%. As of July, the import volume of cotton yarn was 110,000 tons, with no month-on-month change [70] Middle - End Industry - In July, the yarn inventory days of textile enterprises were 27.67 days, a month-on-month decrease of 2.43%. The grey fabric inventory days were 36.14 days, a month-on-month decrease of 2.95% [73] Terminal Consumption - In July 2025, the export value of textile yarns, fabrics and products was 1160.4009 million US dollars, a month-on-month decrease of 3.69%. The export value of clothing and clothing accessories was 1516.1759 million US dollars, a month-on-month decrease of 0.69% [79] - As of July 31, 2025, the cumulative retail sales of clothing, shoes, hats, needles and textiles were 837.1 billion yuan, a month-on-month increase of 12.73%; the cumulative year-on-year increase was 2.9%, a month-on-month decrease of 6.45% [83] Group 4: Options and Stock Market Options Market - The report mentions the implied volatility of at - the - money cotton options this week, but specific data is not provided [84] Stock Market - The report shows the price - earnings ratio trend of Xinjiang Tunhe Agricultural Development Co., Ltd. (600359), but specific data is not provided [87]

Core Insights - The cotton harvest in Bortala, Xinjiang has commenced, with significant mechanization in the process, leading to efficient collection and packaging of cotton [1][2] - Farmers are experiencing higher yields this year, with estimates of 450 kilograms per acre and an increase of 30 to 40 kilograms per acre compared to last year [1][2] - The total area planted with cotton in Bortala this year is over 1.5 million acres, with expectations to complete the harvest by mid-October [3] Group 1 - The cotton harvesting process in Bortala is characterized by the use of large mechanized cotton pickers, referred to as "egg-laying machines," which enhance efficiency in harvesting and packaging [1] - Farmers like Wang Xiaofei have expanded their operations significantly, from 200 acres to 3,000 acres, benefiting from scientific management and mechanization [1] - Agricultural departments are actively providing technical support to ensure effective cotton harvesting, including pest control and machinery coordination [1] Group 2 - In Beilinharimodun Township, the cotton planting area is 117,000 acres out of a total cultivated area of 120,100 acres, with all harvesting being done mechanically [2] - The overall cotton growth this year is reported to be better than last year, contributing to increased productivity for farmers [2] - The cotton harvest in Bortala is expected to be completed by mid-October, indicating a well-planned agricultural cycle [3]

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core View The report tracks the fundamentals of cotton, including futures prices, trading volumes, positions, warehouse receipts, and spot prices. It also provides macro and industry news, indicating that the overall trading of cotton spot is sluggish, the trading of the pure - cotton yarn market is lukewarm, and ICE cotton futures are fluctuating narrowly. The trend strength of cotton is rated as neutral [1][2][4]. 3) Summary by Related Catalogs [Fundamental Tracking] - **Futures Prices**: CF2601 closed at 13,860 yuan/ton yesterday with a daily increase of 0.18%, and the night - session closing price was 13,900 yuan/ton with a night - session increase of 0.29%. CY2511 closed at 19,845 yuan/ton yesterday with a decline of 0.13%, and the night - session closing price was 19,935 yuan/ton with an increase of 0.45%. ICE cotton 12 was at 66.76 cents/pound with an increase of 0.03% [1]. - **Trading Volume and Position**: The trading volume of CF2601 was 208,414 lots, a decrease of 314 lots compared with the previous day, and the position was 700,934 lots, a decrease of 2,806 lots. The trading volume of CY2511 was 10,916 lots, a decrease of 1,999 lots, and the position was 21,486 lots, an increase of 1,045 lots [1]. - **Warehouse Receipts**: The number of Zhengzhou cotton warehouse receipts was 5,017, a decrease of 142, and the effective forecast was 0. The number of cotton yarn warehouse receipts was 90, a decrease of 1, and the effective forecast was 85 [1]. - **Spot Prices**: The price of Beijiang 3128 machine - picked cotton was 15,127 yuan/ton, an increase of 10 yuan compared with the previous day. The price of Nanjiang 3128 machine - picked cotton was 14,820 yuan/ton, an increase of 10 yuan. The price in Shandong was 15,282 yuan/ton, an increase of 8 yuan. The price in Hebei was 15,208 yuan/ton, a decrease of 8 yuan. The 3128B index was 15,248 yuan/ton, a decrease of 1 yuan [1]. - **Price Spreads**: The CF1 - 5 spread was 40 yuan/ton, unchanged from the previous day. The spread between Beijiang 3128 machine - picked cotton and CF601 was 1,270 yuan/ton, a decrease of 20 yuan [1]. [Macro and Industry News] - **Domestic Cotton Spot**: The overall trading of cotton spot is sluggish, the inventory of high - quality lint is low, and the pre - sale of some new cotton has relatively good transactions. The spot sales basis is mostly stable. The mainstream sales basis of 2024/25 Nanjiang machine - picked 3129/29 - 30B with impurities within 3.5 is CF01 + 1200 - 1350, and some are lower than this price, for inland self - pick - up. The sales basis of 2024/25 Beijiang Production and Construction Corps Agricultural Division 8 machine - picked 4129/29B with impurities within 3 is CF01 + 1500 and above, for Xinjiang self - pick - up [1][2]. - **Domestic Cotton Textile Enterprises**: The trading of the pure - cotton yarn market is lukewarm, weaker than the same period in previous years. Downstream weaving mills make just - in - time purchases, and cotton yarn prices are mainly stable, with real orders negotiated. The all - cotton grey fabric market has little change. Weaving mills say that in - machine orders are being continuously produced, but the order volume has decreased year - on - year, and it is difficult to get follow - up orders. Grey fabric prices are negotiated according to the quantity [1][2]. - **US Cotton**: Last Friday, ICE cotton futures first fell and then rose, continuing to fluctuate narrowly within the day. The USDA monthly supply and demand report basically met market expectations. The production of US cotton in the 25/26 season was slightly adjusted, and exports and ending stocks remained unchanged. In the global market, the beginning inventory, production, and consumption of Chinese cotton in the 25/26 season were mainly adjusted [1][2]. [Trend Strength] The trend strength of cotton is 0, indicating a neutral rating. The range of trend strength is an integer within the [-2, 2] interval, with -2 being the most bearish and 2 being the most bullish [4].

每周，研究员李文磊都会来村里两三次。"我们每半个月对全州的棉花做一次系统调查，每个乡镇至少 调查三块地。"李文磊说："通过观察棉花长势，判断生育进程是快还是慢，再给出针对性的措施，保证 棉花保持在理想的生长状态。" 中新网新疆精河9月13日电(刘益伶 郎佳慧)位于新疆维吾尔自治区的博尔塔拉蒙古自治州精河县大河沿 子镇的夏尔托热村，有15600亩棉田。 近日，跟随"砥砺奋进七十载 天山南北谱华章"集中采访活动，记者走进这座种棉大村。地里的棉花已 经进入吐絮期，还有10天左右，村民们就将迎来收获的季节。 "我们村80%的土地都在种棉花。"夏尔托热村党支部书记董希林摘下一朵棉桃，介绍道："把棉花拉出 来，如果像一条细细的线，这就是好棉花。" 夏尔托热村是精河县的老棉区，种棉历史已有40余年。一到收获季，就会有企业来村子里"抢购"优质棉 花。这种棉花企业的相互竞争，提高了棉农的种植积极性，董希林说："老百姓就喜欢企业抢购，一抢 购价格就上去了，所以大家就更想把棉花种好，把质量搞好。" 对于夏尔托热村来说，提高棉花品质，关键在于品种选育、田间管理、科学施肥等。村里的种植大户丁 红山管着100多亩地棉田，他说："每半个月 ...

1. Report Industry Investment Rating - No relevant information provided 2. Core Views of the Report - The price of the main contract of Zhengzhou Cotton 2601 decreased by about 1.0% this week. It is recommended to wait and see in the short - term. Attention should be paid to changes in foreign cotton prices, demand, and inventory. Internationally, the US cotton export signing and shipment volumes decreased significantly. Domestically, the inventory remains low, the market supply is still tight, downstream orders have slightly increased, and the spinning mills' startup rate remains low. [6][7][21] 3. Summary by Directory 3.1 Week - on - Week Summary - Strategy suggestion: Wait and see for the Zhengzhou Cotton 2601 contract in the short - term [6] - Future trading tips: Monitor foreign cotton price changes, demand, and inventory [7] - Market review: The price of the main contract of Zhengzhou Cotton 2601 decreased by about 1.0% this week [7] - Market outlook: Internationally, the US cotton export signing and shipment volumes decreased significantly. Domestically, the inventory is low, the market supply is tight, downstream orders increased slightly, and the spinning mills' startup rate remains low [7] 3.2 Futures and Spot Market 3.2.1 US Cotton Market - The price of the US Cotton December contract increased by about 0.75% this week. As of September 2, 2025, the non - commercial long positions in US cotton futures were 70,472 lots, an increase of 3,012 lots from the previous week; the non - commercial short positions were 118,684 lots, an increase of 13,618 lots from the previous week; the net short position was 48,212 lots, an increase of 10,606 lots from the previous week [11] 3.2.2 Foreign Cotton Spot Market - As of September 4, the net increase in US cotton export sales was 129,600 bales, a 47% decrease from the previous week and a 33% decrease from the average of the previous 4 weeks. The current international cotton spot price is 77.85 cents per pound, a 0.35 - cent increase from last week [16] 3.2.3 Futures Market - The price of the Zhengzhou Cotton 2601 contract decreased by about 1.0% this week, and the price of the Cotton Yarn Futures 2511 contract decreased by about 0.60%. As of this week, the net position of the top 20 in cotton futures was - 29,297 lots, and that in cotton yarn futures was - 288 lots. The number of cotton futures warrants at the Zhengzhou Commodity Exchange was 5,017, and that of cotton yarn futures was 90 [21][27][33] 3.2.4 Spot Market - As of September 12, 2025, the spot price index of Cotton 3128B was 15,248 yuan per ton, and the spot price index of Chinese Cotton Yarn C32S was 20,745 yuan per ton. The CY index for OEC10s (rotor - spun yarn) was 14,800 yuan per ton, and for OEC10s (combed yarn) was 23,880 yuan per ton [41][52] 3.2.5 Imported Cotton (Yarn) Cost - As of September 11, the sliding - scale duty price of imported cotton was 14,176 yuan per ton, a 48 - yuan increase from last week; the quota price of imported cotton was 13,319 yuan per ton, a 70 - yuan increase from last week. The price indices of imported cotton yarn (FCY Index) for port pick - up prices of C21S, C32S, and JC32S were 20,180 yuan per ton, 21,235 yuan per ton, and 23,080 yuan per ton respectively [56] 3.2.6 Imported Cotton Price Cost - Profit - As of September 11, the estimated profit of imported cotton with sliding - scale duty was 1,110 yuan per ton, a 227 - yuan decrease from last week; the estimated profit of imported cotton with quota was 1,967 yuan per ton, a 249 - yuan decrease from last week [59] 3.3 Industry Chain Situation 3.3.1 Supply Side - As of the end of August, the national commercial cotton inventory was 1.4817 million tons, a decrease of 708,100 tons from the previous month, a decline of 32.34%. As of July 31, the industrial cotton inventory was 898,400 tons, a 1.85% increase from the previous month. In July 2025, China's cotton import volume was 50,000 tons, a 66.67% increase from the previous month. As of July, the import volume of cotton yarn was 110,000 tons, unchanged from the previous month [62][69] 3.3.2 Mid - end Industry - In July, the yarn inventory days of textile enterprises were 27.67 days, a 2.43% decrease from the previous month. The grey fabric inventory days were 36.14 days, a 2.95% decrease from the previous month [72] 3.3.3 Terminal Consumption - In July 2025, the export value of textile yarns, fabrics, and products was 11,604.009 million US dollars, a 3.69% decrease from the previous month. The export value of clothing and clothing accessories was 15,161.759 million US dollars, a 0.69% decrease from the previous month. As of July 31, 2025, the cumulative retail sales of clothing, shoes, hats, needles, and textiles were 837.1 billion yuan, a 12.73% increase from the previous month, and the cumulative year - on - year growth was 2.9%, a 6.45% decrease from the previous month [78][82] 3.4 Options and Stock Market - related Market - No specific analysis content provided for the options market, only mentioned the implied volatility of at - the - money cotton options this week. For the stock market, only the price - to - earnings ratio trend of Xinjiang Nongkai Development Co., Ltd. was presented [83][86]

Core Insights - The article highlights the transformation of Xinjiang's cotton industry from a "cotton planting forbidden zone" to a leading cotton production area, emphasizing the role of mechanization and digital technology in this evolution [1][2][4]. Group 1: Historical Context - In 1950, cotton planting was successfully initiated in Xinjiang, marking the end of its status as a "cotton planting forbidden zone" [2]. - By the 1980s, cotton production in Xinjiang was relatively low, with laborers harvesting less than 50 kilograms of cotton per day, leading to health issues among farmers [2]. Group 2: Technological Advancements - Chen Xuegeng, an agricultural machinery expert, has been pivotal in developing key technologies such as the cotton film mulching seeder and precision drip irrigation seeder, facilitating the mechanization of cotton production [2][4]. - As of 2024, Xinjiang's cotton production is 95% mechanized, with a total output accounting for 92.2% of China's cotton production and an average yield of 154.9 kilograms per mu [4]. Group 3: Future Prospects - The future focus for Xinjiang's cotton industry includes enhancing yield and quality while developing an integrated technology system for precise breeding, standardized production, and intelligent management [5]. - Xinjiang's cotton production technologies are being exported to similar climate regions, such as Uzbekistan, indicating a growing international influence [4].

Group 1 - The core viewpoint of the article indicates a slight decline in cotton futures prices on the ICE, with the current price at 66.56 cents per pound, down 0.27% from the opening price of 66.74 cents per pound [1] - As of September 11, the opening price for U.S. cotton was 66.74 cents, with a closing price also at 66.74 cents, reflecting a minor increase of 0.12% [2] - The inventory of imported cotton at major ports has decreased to 290,500 tons, marking a week-on-week decline of 2.45% and reaching a two-year low [2] Group 2 - In Shandong province, the inventory of imported cotton is approximately 228,000 tons, down 2.98% week-on-week and down 41.98% year-on-year [2] - The Brazilian Institute of Geography and Statistics (IBGE) has adjusted its forecast for cotton planting area in Brazil for 2025 to 2.131926 million hectares, an increase of 5.1% from the previous month, but a decrease of 0.5% from the previous year [2] - The Brazilian Ministry of Agriculture's National Supply Company (CONAB) has revised its forecast for Brazil's cotton production in the 2024/25 season to 4.06 million tons, up from the previous estimate of 3.93 million tons [2]