July 2002 Edition:
World Production Down and Consumption Up in MY2002/03
The world situation in MY02/03 shows falling production and rising consumption, imports, and exports. World production is forecast to fall 8.2 percent due to reductions in China and the United States. China’s production is forecast to fall 3.9 million 480-lb bales, 16 percent below last year’s level. The United States’ production is forecast to fall 2.8 million 480-lb bales, down 14 percent from last year.
World consumption is forecast to increase 2.6 percent or 2.5 million bales due mainly to increases in China, Pakistan, India, and the United States. World imports and exports are forecast to rise 5.5 and 4.5 percent, respectively. Major increases in exports are forecast for Franc Zone Africa countries. Major import increases in China and Brazil will be partially offset by decreases in Pakistan.
As a result of falling production and increasing consumption, imports, and exports, world ending stocks are forecast to decrease 12.5 percent. Lower stocks are especially apparent in China and the United States, falling 29 and 14 percent, respectively.
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TABLE OF CONTENTS
World Cotton Outlook
U.S. Cotton Highlights
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