Global cotton production hit by lower prices
06/10/2015
China’s imports of cotton are forecast to fall by 12% to 1.6 million ton in 2015/2016 - 30% of its peak volume of imports in 2011/12.
The Chinese government this year restricted imports to the minimum volume required by the World Trade Organization to encourage mills to purchase domestic cotton – of which it holds 11 million tons in a stockpile.
Given the large volume of production and reserves, imports are likely to be restricted again in 2016.
Meanwhile, Bangladesh imports are forecast to increase 1% to 972,000 tons while Vietnam’s imports are forecast up 2% to 956,000 tons. After decreasing in 2013/14, Indonesia’s imports recovered 13% to 735,000 tons in 2014/15, and are expected to increase 6% to 782,000 tons in 2015/16.
The United States is forecast to lead in export volume, although its exports are projected down 9% to 2.2 million tons due to a smaller volume of production in 2015/16.
After declining 48% in 2014/15, India’s exports may recover 34% to 1.2 million tons.
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