August 2003 Edition:

U.S. Cotton's Share of World Consumption Stable

The importance of U.S. cotton exports in total world cotton trade (currently estimated at about 39 percent) has attracted much attention recently, particularly from other cotton exporting countries. The fact is that the textile production and marketing chain have become more international than ever, and demand for raw cotton has proven more mobile than cotton supply. While the ratio of domestic to foreign demand for U.S. cotton has changed dramatically in recent years, the share of world cotton demand met by U.S. cotton has not. U.S. cotton’s share of total world consumption (U.S. exports plus domestic U.S. consumption divided by total world consumption) has remained relatively flat over the last 15 years. U.S. cotton is expected to account for 18.6 percent of the total world consumption in 2003/04. That level is down slightly from 2002/03 and below the averages for the 1990’s and the previous three years. U.S. consumption in 2003/04 is forecast at 6.6 million bales, down over 40 percent from the record set in 1997/98. 

Two consecutive years of drought in Australia have meant tighter supplies in this traditional exporting country. Australian exports, already down 16 percent from MY 2001/02, are expected to fall another 37 percent in MY 2003/04. Other exporters, such as Mali, Burkina Faso and Brazil, are expected to increase their exports as a result.

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TABLE OF CONTENTS

U.S. Cotton Outlook
World Cotton Outlook
Cotton Prices
U.S. Cotton Highlights

Most statistical tables contained in this circular may be viewed in Adobe Acrobat format ® (.pdf).

Tables

• Table 1: World Cotton Supply, Use and Trade, 1998/99-2003/2004 (1,000 metric tons) {.pdf}
• Table 2: World Cotton Supply, Use and Trade, 1998/99-2003/2004 (1,000 480-lb. bales) {.pdf}
• Table 3: FY 2002 GSM-102 and Supplier Credit Programs {.pdf}
• Table 4: Area, Yield, and Production by Country 2002/2003-2003/2004 {.pdf}
• Table 5: Cotton Supply & Distribution by Country 2003/2004 (1,000 480-lb. bales) {.pdf}
• Table 5-A: Cotton Supply & Distribution by Country 2003/2004 (1,000 metric tons) {.pdf}
• Table 6: Cotton Supply & Distribution by Country 2003/2004 (1,000 480-lb. bales) {.pdf}
• Table 6-A: Cotton Supply & Distribution by Country, 2003/2004 (1,000 metric tons) {.pdf}
• Table 7: Export Sales Summary {.pdf}
• Table 8: Northern European Cotton and Adjusted World Price {.pdf}
• Table 9: World Cotton Production, Yield, Supply, and Utilization {.pdf}
• Table 10: United States Cotton Production, Yield, Supply, and Utilization {.pdf}
• Table 11: Foreign Cotton Production, Yield, Supply, and Utilization {.pdf}
• Table 13:Summary of Changes 2001/02-2002/2003 (1,000 480-lb. bales) {.pdf}

Last modified: Tuesday, August 30, 2005