United States Department of Agriculture Economic Research Service (USDA ERS) announces that the latest U.S. Department of Agriculture (USDA) cotton demand forecasts for 2006/07 indicate that foreign cotton use is expected to grow to 115.9 million bales, a record.
Although world mill use also is projected at a high of 121 million bales, U.S. cotton mill use continues its trend lower.
U.S. mill use has declined rapidly from its peak in 1997/98, while cotton consumption in a number of foreign countries, like China, has experienced dramatic gains. Just 5 years ago, China, India, and the United States accounted for half of the world's mill use.
However, these countries' share of global cotton mill use has changed, with China and India capturing a larger share. In 2006/07, China and India are expected to account for 41 and 15 percent, respectively, of world mill use.
While the U.S. share continues to decline, Pakistan and Turkey have maintained their share as global mill use expands, accounting for 10 and 6 percent, respectively.
United States Department of Agriculture Economic Research Service
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