World cotton production in 2006/07 forecast at 115.7mn bales
25 Nov '06
4 min read
Global cotton consumption is forecast at a record of nearly 121 million bales, 4 percent above last season. Foreign cotton consumption is expected to reach a high of 115.7 million bales, while U.S. mill use continues to decline further. Foreign mill use is expected to increase for the eighth consecutive season.
Among foreign consumers, the largest gains are anticipated in the major producing countries of China (5 million bales higher) and India (1 million). China is expected to account for nearly all of the 2006/07 global consumption increase and, at 50 million bales, China accounts for more than 40 percent of world cotton consumption.
Although foreign consumption continues to exceed production, 2006/07 global trade in raw cotton is forecast to decline from last season's record. World cotton trade is expected to approach 41.6 million bales this season, compared with 45.4 million in 2005/06.
The United States and most other major exporting countries are expected to export less this season as foreign stocks are drawn down. Foreign shipments are projected to decrease 7 percent to approximately 25.4 million bales, or 61 percent of global trade in 2006/07. Foreign imports are forecast at 42 million bales, 5 percent below a year earlier.
U.S. cotton production in 2006/07 is projected at 21.3 million bales, 11 percent below the 2005/06 record of 23.9 million. Although below a year ago, this season's crop is larger than expected, given the below- average growing conditions that were reported earlier in the year.
marketing@alchempro.com
