Dec 18 (Reuters) - U.S. cotton research firm, Cotton Outlook, sees cotton inventories declining more than previously expected in the 2015/16 crop year due to lower production in South Asian countries and higher demand in Vietnam.
* Cotlook says global cotton stocks would decline by 1.5 million tonnes in the 2015/16 crop year, which ends in July, up sharply from its forecast last month for a 971,000-tonne drop
* Cotlook cuts 2015/16 global output estimate by 484,000 tonnes from last month's forecast to 21.9 million tonnes
* Lowers Pakistan output estimate by 200,000 tonnes to 1.6 million tonnes, lowers India output by 128,000 tonnes to 6.1 million tonnes, and lowers U.S. output by 67,000 tonnes to 2.8 million tonnes
* Raises world demand forecast for 2015/16 by 45,000 tonnes to 23.4 million tonnes due to 50,000 tonne increase in expectation for Vietnam consumption to 1 million tonnes. Source: Cotlook statement