New figures show global cotton stock levels are set to increase to 22m tonnes by the end of 2020/21 as the stocks-to-use ratio declines.
According to the latest update from the International Cotton Advisory Committee (ICAC), China’s stocks, however, are expected to decline as the rest of the world’s expands slightly.
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Cotton consumption is expected to increase by 2% to 25.3m tonnes as the global economy continues to recover.
Decreases in Brazil, India and the US have caused a reduction in the 2020/21 global production estimate but cotton production — along with consumption and trade — are all expected to increase in 2021/22:
Production is expected to increase by 5% to 25.5m tonnes, with increases in planted areas in the US and West Africa.
Trade is expected to rise by 2% to 10m tonnes with import increases expected in all major consuming countries.
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By GlobalDataIn terms of prices, The Secretariat’s current projection for the year-end 2019/20 average of the A Index has been revised to 81.9 cents per pound this month. The price projection for the year-end 2020/21 average of the A Index is 87.1 cents per pound this month.
