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2011-5-17
The first U.S. Department of Agriculture (USDA) cotton forecast for 2011/12 projects growth in both world cotton production and consumption, with production exceeding consumption for the first time in 7 years. Global production is forecast to rise to a record of about 125 million bales, 10 million above 2010/11.
The nearly 9-percent growth rate for 2011/12 pushes the anticipated crop nearly 12 million bales above the 5- year average. Cotton production in 2011/12 is forecast to increase in most of the major producing countries, led by India, China, and Pakistan.
World cotton consumption for 2011/12 is projected at 119.5 million bales, 3 million higher than 2010/11 and the largest since 2007/08.
Growth similar to the long-term average is supported by improving global economic conditions, cotton product demand in developing countries, and the expectation of a bumper crop. Cotton mill use in 2011/12 is forecast to expand in the major consuming countries, led by China and India.
Source:U.S. Department of Agriculture (USDA)
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