REVIEW OF 1996/97

摘要

International cotton prices were above average and stable in 1996/97, world consumption rose to 19 million tons after a decade of no growth at about 18.5 million tons, China (Mainland) remained a substantial importer of cotton and the world cotton yield did not rise for a fifth consecutive season,. During 1996/97, world production fell 800,000 tons to 19.5 million tons, while world consumption rose 600,000 tons to a record 19.2 million. World ending stocks rose 600,000 tons to 9.3 million tons or 48%of world consumption in 1996/97. Stocks rose in China (Mainland) and the USA by a combined 600,000 tons and were virtually unchanged in the rest of the world. At the end of 1996/97, China (Mainland) ending stocks were estimated at 4 million tons or 44%of world stocks, and USA ending stocks were estimated at 830,000 tons or 9% of world stocks. The ratio of ending stocks outside China (Mainland) to consumption outside China (Mainland) did not change significantly during 1996/97 and remained near the 1995/96 level of 0.40.