Please choose your delivery country and your customer group
The latest U.S. Department of Agriculture (USDA) cotton forecast for 2012/13 indicates that global cotton consumption is expected to rise by 3 % from last season's 8-year low as the global economy experiences a slow recovery. Global 2012/13 cotton production is forecast at 116.9 million bales, down 6 % from the previous year as more profitable competing crops crowd out cotton from area under cultivation. Output decline is expected in almost all major producing countries. Australia and Brazil are forecast to produce 4.0 million bales and 6.5 million bales, respectively, down 27 % and 25 % from the previous year. India and Pakistan are expected to produce 25.5 million bales and 10.0 million bales, respectively, down 7 % and 6 % from the preceding year. India's 2012/13 production decline is driven by reductions in both area and yield, while the reduction in Pakistan is mainly a function of lower yields. China is forecast to produce 31.5 million bales, down 5 % from a year earlier. China's area harvested is expected to decline by 7 % from a year ago to 5.0 million hectares in 2012/13. The U.S. is expected to produce 17.3 million bales in 2012/13, an increase of 10 % from the preceding year. World's 2012/13 cotton mill use is forecast at 106.5 million bales, up 3 % from the previous year. China's cotton consumption is forecast at 35.5 million bales, down 7% from the previous year as domestic price support and national reserve policies combine to depress the margins of domestic cotton spinners. Pakistan is forecast to consume 11.5 million bales in 2012/13, up 14 % from the previous year, due partly to a substantial increase in yarn exports to China. Brazil, Turkey, and the U.S. are forecast to consume 4.1 million bales, 6.0 million bales and 3.4 million bales in 2012/13, respectively, up 3 %, 7 % and 3% from a year ago. World's 2012/13 imports are forecast at 37.7 million bales, down 16 % from the previous year. The forecast decline in world imports is driven largely by an expected decline in China, where 2012/13 imports are forecast to decrease by 53 % to 11.5 million bales. China's ongoing national reserve policy has reduced its demand for -foreign cotton. Bangladesh and Indonesia are forecast to import 3.7 million bales and 2.3 million bales in 2012/13, respectively, both up 16 % from a year earlier. Pakistan and Turkey are expected to import 2.4 million bales and 3.5 million bales in 2012/13, respectively, up 140 % and 47% from the previous year.