World cotton production is expected to decline by 2% in 2007/08 to 26,1 million tons, with world cotton imports forecast to rise by 10% to 9,1 million tons, due to an expected rebound in Chinese imports to 3,5 million tons.
A new report from the International Cotton Advisory Council says the result will be a dramatic 11% reduction in cotton stocks to 11,4 million tons. Preliminary projections for 2008/09 suggest an increase in world production to 27,1 million tons and in world mill use to 27,8 million tons. This will take year-end world stocks down to 10,6 million tons. – Alan Harman