World Cotton Balance Sheet

摘要

Consumption In autumn 2007, Cotlook postulated that supply and demand might act in such a way as to bring about higher prices. We projected a three percent fall in world output during 2008/2009 and proposed two scenarios for consumption, one consisting of a rise of four percent, which would equal the average increase over the preceding ten seasons, the other envisaging a sharp slowdown in growth, to one percent, which, we stated, 'might be precipitated by a combination of global financial/economic difficulties, rising raw cotton replacement costs, and a slowdown in the rate of growth in mill activity in China'.