OF THE OUTLOOK FOR COTTON

摘要

World cotton production is forecast smaller in 1996/97 and 1997/98 than it was in 1995/96, and consumption is expected to grow. Nevertheless, averages of the Cotlook A Index are expected to be lower during the next two seasons than they were in 1994/95 and 1995/96. Net imports by China (Mainland)--imports minus exports--are expected to fall from 840,000 tons two seasons ago [6% of non-China (Mainland) consumption] and 645,000 tons in 1995/96 [4.5% of non-China (Mainland) consumption], to 150,000 tonsin the current and following seasons [1% of consumption outside China (Mainland)]. With China (Mainland) drawing a smaller share of the rest-of-the-world's supply away from other users, the Cotlook A Index is falling towards an aver age of 76 cents perpound, compared with averages of 94 cents in 1994/95 and 86 cents last season.