Interviews
USDA global cotton output estimates remain unchanged
17 Mar '15
4 min read
Global cotton consumption in 2014/15 is forecast at 111.0 million bales, down slightly from last month’s projection but nearly 2 per cent above the previous season.
China continues as the world’s leading spinner, accounting for approximately one-third of the global mill use of cotton.
In 2014/15, China is expected to use 35 million bales of cotton, slightly above last season but well below the record of 51 million bales used in 2007/08.
A substantial portion of the loss in domestic cotton spinning has been replaced by imports of cotton yarn and in 2014/15; China could import more than 9 million bale-equivalents of raw fibre in the form of cotton yarn.
Cotton mill use in India, the second largest spinner, is expected to expand for the third consecutive year and in 2014/15, India’s cotton use is forecast at 24 million bales, up from about 23.4 million bales last season.
India’s growth has been supported by expanding cotton yarn exports to China, where India has become a leading supplier.
Cotton mill use in Pakistan is also benefiting from China’s yarn imports and in 2014/15, Pakistan’s mill use is forecast at 10.5 million bales, up slightly from last season.
In Vietnam, cotton consumption is projected to approach 3.7 million bales this season, more than double the level of just 3 years ago as yarn exports have also benefited the textile sector.
Despite rising cotton consumption, world production is expected to exceed mill use for the fifth consecutive season.
Based on the March world cotton supply and demand estimates, 2014/15 global ending stocks are forecast at a record 110.1 million bales, 8 per cent above a year ago and more than double the level in 2010/11.
In addition, cotton stocks at the end of 2014/15 are projected to approximate a year’s worth of global consumption. As a result, world cotton prices are expected to decrease to a level not seen since 2008/09. (AR)
China continues as the world’s leading spinner, accounting for approximately one-third of the global mill use of cotton.
In 2014/15, China is expected to use 35 million bales of cotton, slightly above last season but well below the record of 51 million bales used in 2007/08.
A substantial portion of the loss in domestic cotton spinning has been replaced by imports of cotton yarn and in 2014/15; China could import more than 9 million bale-equivalents of raw fibre in the form of cotton yarn.
Cotton mill use in India, the second largest spinner, is expected to expand for the third consecutive year and in 2014/15, India’s cotton use is forecast at 24 million bales, up from about 23.4 million bales last season.
India’s growth has been supported by expanding cotton yarn exports to China, where India has become a leading supplier.
Cotton mill use in Pakistan is also benefiting from China’s yarn imports and in 2014/15, Pakistan’s mill use is forecast at 10.5 million bales, up slightly from last season.
In Vietnam, cotton consumption is projected to approach 3.7 million bales this season, more than double the level of just 3 years ago as yarn exports have also benefited the textile sector.
Despite rising cotton consumption, world production is expected to exceed mill use for the fifth consecutive season.
Based on the March world cotton supply and demand estimates, 2014/15 global ending stocks are forecast at a record 110.1 million bales, 8 per cent above a year ago and more than double the level in 2010/11.
In addition, cotton stocks at the end of 2014/15 are projected to approximate a year’s worth of global consumption. As a result, world cotton prices are expected to decrease to a level not seen since 2008/09. (AR)
Fibre2fashion News Desk - India
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