World cotton production in 2006/07 forecast at 115.7mn bales
25 Nov '06
4 min read
United States Department of Agriculture Economic Research Service (USDA ERS) announces that world cotton ending stocks for 2006/07 (August/July marketing year) are forecast at 51.1 million bales, 2.7 million below last season and 3 million bales below the 2004/05 record of 54.1 million.
The forecast reduction this season is attributable to the sustained growth in world consumption as global production is estimated only slightly higher in 2006/07.
The decline is chiefly due to foreign cotton stocks, with reductions in a number of countries, including China, Pakistan, and Australia. Stocks in the United States in 2006/07 are forecast near 6 million bales for the second consecutive season.
World cotton production in 2006/07 is forecast at 115.7 million bales, 1 percent above last season's output of 114.1 million bales. Production is expected to rise this season in a number of the major producing countries, while declining in several others, resulting in a cotton crop similar to last season's.
China and India, accounting for more than 40 percent of world production this season, are projected to increase their crops by nearly 4 million and 2 million bales, respectively. Meanwhile, the United States, Pakistan, and Australia are expected to produce smaller crops than in 2005/06.
Total foreign cotton production in 2006/07 is estimated at 94.4 million bales, 4 million above last season but approximately 3 million below the record in 2004/05.
marketing@alchempro.com
