2018/19 Outlook - Consumption Outpacing Supply Amidst Global Trade Challenges

摘要

In the 2017/18 season, global cotton production grew by 17% to 26.8 million tonnes, following the 7% production growth of the previous season. In 2018/19, global cotton production is expected to decrease by 2% to 26.3 million tonnes due to a contraction of area under cotton and with no improvement in global yields. High cotton prices and better than expected returns from cotton compared to competing crops would suggest area expansion, however several major producing countries are expected to have reduced area in the 2018/19 season due to ongoing pest issues, adverse weather conditions, water availability and changes in government policies. Global cotton area is currently projected at 33.6 million hectares, which would represent a 1% decrease from the previous season.