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- (-) November 2023
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No significant changes are made to the cotton supply and demand outlook. The 2023/24 cotton production forecast is unchanged at 6.5 million bales, total use is 10 million bales, and the import forecast remains 4.2 million bales.
The Department of Plant Protection (DPP) stopped imports of genetically engineered (GE) soybeans and canola in late October 2022. DPP said that importers needed an import license from the Ministry of Climate Change (MOCC).
The 2022/2023 sugarcane harvested area is slightly reduced due to the impacts of the recent flooding in key production areas. As a result, the 2022/23 cane sugar production forecast is lowered to 7 million tons. Despite the slight decline in output expected, there will still be an exportable surplus, and the 2022/23 export forecast remains 1 million tons.