Hurricanes Reduce Georgia Cotton Crop By 20%
Date
10/18/2024 8:18:29 AM
(MENAFN- Yolo Wire) Hurricanes Helene and Milton, which ripped across the U.S. southeast in recent weeks, have reduced the %Cotton crop in the State of Georgia by an estimated 20%.
According to the U.S. Department of Agriculture (USDA), the high winds and heavy rains from the recent hurricanes destroyed one-fifth (20%) of the cotton crop in Georgia.
Georgia is the second-largest cotton producer in the U.S. after Texas and one of the top producers in the world. Cotton is used to make clothes ranging from t-shirts to blue jeans.
The USDA estimates that growers in Georgia will harvest 1.65 million bales of cotton this year weighing 480 pounds each, down by 400,000 bales from pre-hurricane estimates.
A preliminary damage report by the University of Georgia pegged the cotton losses at 500,000 to 600,000 bales worth $220 million U.S.
State officials said the hurricanes could ultimately cost Georgia’s agriculture sector $6.46 billion U.S. when damage to timber, pecans, and horticulture, as well as cotton, are factored in.
The USDA has now lowered its estimate for the entire U.S. cotton crop this year to 14.2 million bales, down about 2% from a month ago due to hurricane damage.
Cotton crops have been damaged in other U.S. states by the recent hurricanes. North Carolina’s cotton crop is now estimated at 700,000 bales, down 7% from earlier forecasts.
The price of cotton is currently at $0.71 U.S. per pound, down 29% from a $1 U.S. a pound at the start of the year.
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