Subsequently, global consumption declining by 59,000 tones next year to 26.25 mt against initial estimates of 26.31 mt and last years 25.99 mt.That will lead to the carryover stocks declining 1.06 million tones from the earlier projection of 1.04 mt.This year, the stocks are expected to decline by 4.18 mt.On the consumption side, Indian consumption is seen increasing to 430 lakh bales up from 419 lakh bales this year. China’s consumption is expected to increase to around 640 lakh bales from 627 lakh bales this year. On the other side, off take in the US is projected to decrease to 9.36 mt from earlier estimated of 9.58 mt and last year’s 10.01 mt. Source: