China's cotton production could fall 24% in 2015

China’s cotton output could fall 24% from 6.6 million tons this year to 5 million tons in 2015 as the government ends direct subsidies to growers, Bloomberg reported, citing a state-affiliated researcher. Chinese officials plan to implement a program of direct subsidies to growers in Xinjiang, replacing state-funded stockpiling, but there is no indication that the measure will be extended beyond Xinjiang, said Xi Jin, a manager at Cncotton.com. Cotton for December delivery fell 1.8% to US$0.63 a pound on Thursday, and the fiber is poised to extend its longest run of losses in over five decades as analysts see global demand trailing output.