Summary of the outlook for cotton: Fourth Season of Surplus

摘要

The world cotton industry is entering what is expected to be the fourth consecutive season in which production will exceed consumption. 2013/14 world production is forecast at 25.6 million tons, while consumption is forecast at 24 million tons. Worldtrade is forecast at 9 million tons, and world ending stocks are forecast at a record 19.8 million tons, or an eye-popping 83% of projected mill use. World production will have exceeded consumption by a cumulative 11 million tons between 2010/11 and theend of 2013/14, resulting in a doubling of world ending stocks in four seasons.