Greece’s cotton output seen by US unit down 25 pct this year

Cotton production in Greece is forecast to drop 25 percent this year after falling 8 percent last year on lower fertilizer usage, the US Department of Agriculture’s Foreign Agriculture Service said.

Production for the season that starts in August will drop to 200,000 metric tons from 265,000 tons a year earlier, which is lower than the USDA’s official estimate of 300,000 tons, the FAS said in a report on its website.

Cotton accounts for 8 percent of Greece’s agriculture output, and Turkey takes about 35 percent of Greek cotton, the FAS said. [Bloomberg]