The latest U.S. Department of Agriculture (USDA) projections for 2007/08 indicate that world cotton stocks are expected to decrease after being nearly unchanged in 2006/07.
Global ending stocks are currently projected at 51.2 million bales for 2007/08, 9 percent (nearly 5.2 million bales) below the current season and the lowest in 4 years.
The 2007/08 stock reductions are expected to come from a number of countries, including the United States, India, and Brazil. Stocks in China, however, are forecast to remain near those currently estimated for 2006/07.
Forecast at 14.5 million bales for 2007/08, ending stocks in China are projected at their second lowest in over a decade.
In contrast, U.S. cotton stocks are expected to fall over 3 million bales in 2007/08, from 9.8 million bales to 6.7 million, still one of the larger levels of the past decade.
Foreign stocks, excluding China, are also forecast to decline in aggregate about 2 million bales to 30 million, the lowest since 2003/04.
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United States Department of Agriculture
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