US: Cotton production “to hit four-year low”
Cotton production in the US is set to fall further in 2013-14, hitting its lowest level since 2009, according to the latest supply and demand estimates.
The US Department of Agriculture’s August report said production would fall 447,000 bales to 13.1m in 2013-14, thanks mainly to a 17% reduction from 2012’s record production levels in the south-east.
Ending stocks are projected to fall to 2.8m bales, with domestic mill use unchanged, but marginally lower beginning stocks and a 400,000-bale reduction in export projections.
In global terms, the department forecasts higher beginning stocks, lower production and marginally lower ending stocks compared to its July report.
Production estimates are reduced for China, the US, Uzbekistan and Zimbabwe, but are raised for Pakistan.
China’s reduced production is a reflection of unfavourable weather in parts of Xinjiang, north central China, and in Hunan province.
Meanwhile, India’s production estimates are unchanged from July, but stocks are up.
Sectors: Fibres & fabrics
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