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2010/11 cotton stocks lowest since 1996/97
18
Sep '10
The latest U.S. Department of Agriculture (USDA) estimates for 2010/11 indicate that global cotton stocks are projected to decline for the fourth consecutive season to their lowest in 14 years (fig. 1).

World ending stocks are currently forecast at 45.4 million bales for 2010/11, slightly below last month's projection and the smallest since 1996/97's 44.6 million bales.

With global stocks tightening, ending stocks will either remain the same or fall in most countries in 2010/11.

Notable exceptions are Southern Hemisphere producers Australia and Brazil—where stocks are forecast to rise commensurate with higher production. In addition, stocks in India are projected to rise as exports will be constrained by Government-imposed restrictions.

For China the leading cotton producer and consumer stocks are forecast to decline 2.8 million bales to 16 million, their lowest in over a decade. U.S. ending stocks are expected to decrease to 2.7 million bales, the lowest since 1995/96, as strong demand raises exports to near-record levels.

U.S. Department of Agriculture (USDA)

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