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China likely to hold nearly 60% of world's cotton stocks
02 Jul '14
4 min read
However, with the ending of China’s reserve policy, many mills are anticipating lower prices later this year, as already reflected in futures markets. Consumption in China should improve slightly and reach 7.9 million tons 2014/15. India experienced strong consumption growth in 2013/14, increasing by 5% to 5.1 million tons. In 2014/15, consumption is projected to grow by an additional 6% to 5.4 million tons.
World trade is projected to decline by 8% to 8.1 million tons, as a result of a reduction in China’s imports from 3 million to 2.2 million tons next season. Imports in the rest of the world are forecast to rise by 3% and reach 5.9 million tons.
Imports into Southeast Asia have grown in line with the expansion of consumption in the region, since little cotton is grown there. In 2014/15, the Secretariat expects imports by Bangladesh to increase by 2%, to nearly 900,000 tons, and those of Vietnam to rise by 9%, to nearly 700,000 tons.
ICAC
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