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World cotton stocks to be stable

World cotton stocks are projected to remain stable by the end of 2017-18 and stock-to-use ratio is expected to be essentially unchanged at about 75 per cent or nine months of mill use. China’s cotton stocks are forecast to decrease another 16 per cent, which would account for 48 per cent of world stocks. Ending stocks held outside of China are expected to increase by 22 per cent.

World cotton area is projected to expand by nine per cent. With output projected to increase by four per cent, India will remain the world’s largest cotton producer. After four seasons of decline, China’s cotton production is expected to rise by seven per cent. Cotton production in the United States is forecast to increase by 20 per cent. Pakistan’s cotton production is projected to increase by 17 per cent.

After falling two per cent in 2015-16, global cotton consumption rose by one per cent in 2016-17 as world economic growth strengthened. In 2017-18, world cotton mill use is projected to increase by two per cent. Mill use in China is expected to grow by one per cent while India’s cotton consumption is projected to recover by three per cent. Mill use in Bangladesh is projected to remain stable.