World & US Cotton outlook

24 Dec '05

3 min read

Foreign Cotton Consumption Growth Continues:

The latest US Department of Agriculture (USDA) cotton projections for 2005/06 indicate that foreign cotton use is forecast at nearly 108.9 million bales, a record.

While world cotton consumption has grown more than 27 million bales since 1997/98 to about 114.9 million, US mill use has declined over 5 million bales and is expected to be the lowest since 1984/85.

US mill use has fallen rapidly from its peak in 1997/98, while cotton consumption in various foreign countries—particularly China—have seen significant increases.

China, India, and the United States accounted for half of the world's raw cotton mill use over the past decade, but their shares have shifted.

In 2005/06, the shares for these countries are estimated at 37 percent, 15 percent, and 5 percent, respectively.

In addition, larger shares are now seen in Pakistan and Turkey—where mill use has recently surpassed that of the United States—with shares reaching 10 percent and 6 percent, respectively.

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World Cotton Production and Consumption Estimates Increased:

The global cotton production forecast was raised slightly in December to 112.3 million bales, as foreign production decreased from last season's record crop.

In 2004/05, world production reached a record 120.4 million bales, double the level produced just 25 years ago.

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