Global cotton production falls
According to the US department of agriculture, 2007/08 global cotton production is expected to be 0.2% higher than March estimates at 119.7 million bales. The increase is largely because of higher estimated production in India and the US.
However, compared with 2006/07, world cotton production is down 2.4 million bales, a 1.9% decline.
India’s production for 2007/08 is estimated at 25 million bales, an increase of 3.2 million bales (15%) compared with the 2006/07 crop. Increasing acreage and use of genetically modified cottonseed appear to be driving production gains in India.
2007/08 consumption is expected to rise 1.4 percent compared with last year’s estimate to an all-time high of approximately 125 million bales. Cotton mill use has risen sharply in recent years in China, India, Pakistan, and Turkey, the world’s major cotton users.
China and India alone will account for approximately 57% (71 million bales) of world cotton consumption in 2007/08. World cotton supply is expected to remain fairly stable in – increasing by just 481,000 bales (0.3%) from the 219.5 million bales in the preceding year.
