Cotton and Wool: Situation and Outlook Yearbook, 2003

摘要

World cotton stocks in 2003/04 (August/July marketing year) are forecast at only 31.7 million bales, more than 5 million bales below a year earlier and the lowest level since 1994/95. The significant decline from 1998/99's record of 48.1 million bales has been attributable to global demand outpacing world production during four of the last five seasons. Foreign cotton stocks are also expected to be the lowest since 1994/95 with the largest reduction occurring in China. Stocks in the United States are likewise expected to decline from last season but are only the lowest in 4 years.