Global Cotton Stocks See 13-Year Low as China Draws Down Reserves

Last updated: October 1, 2025

Washington DC (BBN)- With world cotton lint demand and supply for 2025/26 largely unchanged from last month — production at 25.43 million tonnes and consumption at 25.4 million tonnes — the key development is in ending stocks, projected to fall to their lowest level since 2011/12.

Global stocks are expected to decline 3.8% to 15.37 million tonnes, led by a sharp drawdown in China, according to the International Cotton Advisory Committee (ICAC) latest report, released on Wednesday.

China’s 2024/25 ending stocks fell 9% to 7.89 million tonnes, a reduction that also drove a 65% plunge in imports to 1.1 million tonnes.

For 2025/26, China has maintained its quota policy, allowing 200,000 tonnes of sliding tariff rate cotton imports for textile enterprises.

Outside China, stocks increased by 2.0% in 2024/25, with the United States reporting the largest gain — ending the season with a 9.0% rise to 817,000 tonnes. Brazil and West Africa also posted higher stock levels during the same period.

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