Cotton: World Markets and Trade (April 2003)

U.S. and China Shatter Previous Records

U.S. exports are forecast to reach a record 13.2 million bales in marketing year 2003/04, 1.4 million bales larger than the 11.8 million bales projected in July. A combination of an increased U.S. production forecast and increased import demand has caused this change.

The major import destination of cotton is China which is now forecast to import a record 7 million bales. China's projected imports have increased about 270 percent (4.4 million bales) since the July release of the MY 2003/04 forecast. This increase has been driven by a 5 million-bale production decline in China’s Northern Plains Region since the 2003/04 early season estimates. Bad weather in the region has decreased yields by as much as 50 percent in some provinces.

U.S. exports to China should increase in 2003/04 given the U.S. 10-year historical market share of 50-percent in China. However, exports to other top U.S. markets such as, Turkey, Mexico, Indonesia, and Thailand, could decrease due to a decline in these countries forecasted imports in 2003/04.

Note: The November Supplement is not provided this month; however the data from the supplement may be attained online at http://www.fas.usda.gov/psdonline/psdHome.aspx

TABLE OF CONTENTS

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}

Most statistical tables are available in Adobe Acrobat and Lotus version 3 format. You may need to GET the Acrobat reader.

Last modified: Sunday, March 17, 2013