USDA: record world cotton consumption in 2018/19

USDA: record world cotton consumption in 2018/19

The 1st detailed forecast by the United States Department of Agriculture (USDA), Washington DC/USA, for the season 2018/19 shows world ending stocks forecast down slightly. However, stocks outside of China will increase for the 3rd year in a row and reach a record at just over 50 million bales. Ending stocks are forecast to increase in nearly all major producing and consuming countries as global production remains high relative to consumption.
Global consumption is forecast at a record level of just over 125 million bales (+3.9%). If realized, this would be the 7th consecutive year of growth as global textile consumption continues to recovery from recessionary contractions. Growth is expected in all of the top 10 spinning countries, with continued very strong growth forecast for Vietnam and Bangladesh in particular, 2 countries that have led the way in growth over the last several years. India is also expected to see above-world-average growth rates after several years of sluggish performance.
Global production in 2018/19 is forecast to decline slightly to 121 million bales (-1%). Lower production in the United States and China will more than offset increases in Brazil, Pakistan, and others. The decline in U.S. production is due to higher forecast abandonment given ongoing drought conditions in the Southwest.

Source:
dfv media group