The latest U.S. Department of Agriculture (USDA) cotton projections for 2008/09 indicate that world cotton production is expected to decline 6 percent from 2007/08's 119.3 million bales.
At 112.2 million bales, this season's lower global crop estimate is largely the result of reduced area, which has fallen to the second lowest in 15 years, as alternative crops became more attractive this season.
The decline in world cotton production in 2008/09 is attributable mainly to the lower forecast for the United States, as this crop is projected 28 percent below 2007/08. China's crop is forecast only slightly below that of a year ago, while the rest of the world is forecast to fall 2 percent to its lowest since 2003/04.
The U.S. share of global production is estimated lower at 12 percent in 2008/09, compared with the 5-year average of 18.5 percent. Consequently, the share for China and the rest of the world is up slightly in 2008/09 to 32 and 56 percent, respectively.
U.S. Department of Agriculture
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
