The World's Most Influential RegiOn Gets Even Stronger

摘要

Given that China has been the world's top producer, consumer and importer of cotton for many years, it's shocking that the country could have gained so much more influence in the global cotton industry in just the last year or two. But that's undoubtedly the case in 2013:Global cotton prices are affected by Chinese policies more than any other factor - including economic fundamentals such as supply and demand.Earlier this month, USDA increased its forecast of global cotton stockpiles for 2012/13 to 81.86 million bales.More than half of that amount - 42.61 million bales -resides in China's national reserve.Overall, the amount of cotton in global stocks is at its highest point since USDA began compiling the statistic in 1966. Remove China's supply from the equation, however, and global stocks are at 39.25 million bales, the lowest total since 1994/95.