Global Cotton Production Is Expected To Increase By &Nbsp In 2011/12, And Cotton Or Reduction In Production.
US cotton output is not as good as the US Department of agriculture's estimate of --ICAC.
Global production will exceed consumption and drive prices down.
2010/11 is the most volatile period of cotton prices in decades.
Reuters
ICAC said that a report on cotton failures in Dezhou and a survey on claims for crop insurance in the United States showed that cotton yield per unit in 2011/12 would be lower than that predicted by the US Department of agriculture (USDA).
ICAC said that the US cotton output in September will be 3 million 400 thousand tons, which is lower than USDA's estimated 200 thousand tons in September.
The organization said that global cotton production will reach 26 million 600 thousand tons, pushing the year-end inventory from 9 million tons to 10 million 900 thousand tons.
Last year, tight global cotton prices and government intervention led to the most volatile trend in cotton prices in decades..ICAC pointed out that cotton was among the 53 commodities tracked by the International Monetary Fund (IMF) in 2010.
ICAC said that the growth of cotton consumption in 2011/12 will be slower than the increase in production, from 24 million 400 thousand tons in 2010/11 to 24 million 700 thousand tons, and the price will stabilize.
Global cotton supply
09/10 10/11 11/12 09/10 10/11 11/12
(million tons) (millions of packages)
Output 22.2 24.9 26.6102114122
Consumption 25.3 24.4 24.7116112114
Exports 7.8 7.7 8.1363537
End of term
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