Washington DC (BBN)– Cotton consumption will outpace production by 1.0 million tonnes in 2018/19, with projected totals of 26.7 million tonnes and 25.7 million tonnes, respectively if the trends continue.
According to latest report on cotton, prepared by the International Cotton Advisory Committee (ICAC), major producers including the USA, Pakistan and Australia suffered production losses due to poor weather conditions and lack of available water.
But Turkey and Brazil both posted positive totals in 2018/19, with Brazil setting a record-high production of 2.7 million tones, it added.
The 2018/19 projected ending stocks of 17.8 million tonnes are expected to expand to 18.7 million tonnes by the end of next season, with stocks outside of China reaching an all-time high of 10.5 million tonnes.
If consumption increases in 2019/20, it likely will come from the emerging economies in Asia and Southeast Asia.