2014/15 global cotton output down 1%: USDA

22 Apr '15

4 min read

With the decline in global import demand, most major exporting countries are projected to have reduced shipments in 2014/15, with only the US and Brazil being the two exceptions.

While US cotton exports are forecast to rise slightly to 10.7 million bales, Brazil’s exports are rebounding significantly by a massive 73 per cent to about 3.9 million bales, following a large 2013 cotton crop.

As world cotton production exceeds consumption for the fifth consecutive season, global 2014/15 ending stocks are estimated to rise 8 per cent to a record 110.1 million bales.

USDA’s April global stock revision was largely unchanged; however, there were notable revisions among some countries.

India’s stocks were reduced 400,000 bales due to lower production and in contrast, increases were noted for the US of plus 200,000 bales, Australia also plus 200,000 bales and China plus 175,000 bales.

For 2014/15, China’s stocks are estimated at 65.1 million bales, or 59 per cent of the world total, while Indian stocks, the second largest stock holder are forecast at 14.5 million bales, or 13 per cent of the total.

With record global stocks projected this season, the stocks-to-use ratio is forecast at 99 per cent, up from 93 per cent in 2013/14 and a low of 40 per cent in 2009/10. (AR)

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