February 2002 Edition:
World Cotton Production and Consumption Forecasts
Since the initial MY 2001/02 forecast in July,
USDA’s production forecast grew by over two million bales (480-lb.) while
consumption fell by almost one million bales, causing ending stocks to rise
after two consecutive years of decline.
As the Northern Hemisphere harvest began in August,
upward yield-based adjustments were made to U.S., Indian, and Turkish production
forecasts. By November, better
harvest information indicated higher yields in the United States, China, Turkey,
and Egypt. By December, harvest
data showed lower yields in India and Pakistan, while Southern Hemisphere
producers, discouraged by low prices and weak demand, planted less acreage to
cotton. An increase in China’s
production forecast in January due to new production data, combined with
increased post-harvest forecasts for Pakistan and Iran have nudged up the world
production forecast in the last two months.
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TABLE OF CONTENTS
World Cotton Outlook
U.S. Cotton Highlights
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