USA: Cotton Stocks To Decline Further In 2000/01
World cotton production is estimated at 19 million tons in 2000/01, about 100,000 tons higher than last season, but more than 1.1 million tons lower than in 1997/98, the International Cotton Advisory Committee announced today. The gap between world consumption and production is projected to be one million tons in 2000/01, lifting international cotton prices above 61 cents per pound during the first month of the season. The Cotlook A Index, an indicator of international prices, averaged 53 cents per pound last season, the fifth consecutive year of lower average prices. The combination of low cotton prices and relatively high chemical fiber prices driven by the increasing cost of crude oil, stimulated cotton consumption in 1999/00. Given that crude oil prices remain at a near twenty-year high and the continuing growth in the textile industries of India, Pakistan, Mexico, Brazil, Russia and Turkey, cotton consumption may achieve a new record of 20 million tons in 2000/01. Ending stocks are expected to decline to a five-year low of 7.7 million tons, while Chinese (mainland) stocks will probably fall to 2.1 million tons for the first time in ten seasons. China (mainland) will probably again become a net importer this season. Based on the ICAC price model, the Cotlook A Index is now forecast at 62 cents per pound in 2000/01 and 71 cents per pound in 2001/02.US production is currently estimated at four million tons, down 170,000 tons from the USDA August crop survey because of drought in some Southern states during August. US consumption is expected to remain stable at 2.2 million tons this season, and US ending stocks in 2000/01 may remain close to 900,000 tons. However, US exports are projected to reach 1.8 million tons, 300,000 tons higher than in 1999/00, reducing the stocks-to-use ratio from 0.24 in 1999/00 to 0.22 in 2000/01.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- Rana Plaza four years on – Timeline of change
- Using worker surveys to drive supply chain change
- Trump and Brexit get a dose of pragmatism
- No US rush to Myanmar despite end to sanctions
- Where does VF supply chain sit in growth strategy?
- Amazon wins on-demand apparel manufacturing patent
- Driving ban intensifies Myanmar logistics hurdles
- Inditex, Adidas and Patagonia top ethical report
- Calls for supply chain transparency standard
- Trump bolsters "buy American" with executive order
- Global market review of denim and jeanswear – forecasts to 2022
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Myanmar - ISA Country Report
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing Market in the Top 5 American Countries to 2021 - Market Size, Development, and Forecasts