Interviews
Low yield offsets global cotton acreage hike this season
19 Dec '14
4 min read
World cotton stocks have risen significantly in recent years as production exceeded consumption.
Rising global stocks have been largely attributable to China, where policies supported prices and took a large supply of cotton out of the marketplace with China’s reserve purchases.
For 2014/15, policies in China have changed, and ending stocks there are forecast to remain near the 2013/14 level.
Global cotton stocks are expected to rise 6 per cent in the current season to 108.1 million bales, a record.
China’s stocks are forecast at 62.7 million bales or 58 per cent of total world stocks. India is the second-largest stockholder and is expected to hold 14.6 million bales at the end of the season.
With world cotton prices declining this season, production and consumption are projected to be at their closest balance since 2010/11.
USDA expects the Cotlook A-index to fall significantly from the 2013/14 average of 91 cents per pound. (AR)
Fibre2fashion News Desk - India
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