South Africa’s cotton crop will probably be 7 percent greater than previously estimated this production year as higher rainfall will increase yields.
Farmers in South Africa and Swaziland will probably harvest 34,000 lint bales in the year through July, Pretoria-based Cotton SA said today in a statement, up from last month’s estimate of about 32,000 bales.
“We’ve had good rainfall in the cotton planting areas,” Chief Executive Officer Hennie Bruwer said by phone. “It will lead to a better cotton yield per hectare.”
Farmers had switched to planting corn from cotton last quarter as price of yellow corn, used as animal feed, rose to a record 2,809 rand ($309) a metric ton on July 30. Cotton gained 0.8 percent to 84.36 cents a pound by 10:30 a.m. in New York.
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