The Farmer's Weblog

Friday, July 25, 2003

2003/04 World Cotton Stocks Projected Lowest in 9 Years
The latest U.S. Department of Agriculture (USDA) forecast for 2003/04 projects cotton stocks to decline for the second consecutive season as record world cotton more than offsets a rebound in production. World cotton ending stocks are forecast million bales for 2003/04, 11 percent or 4 million bales below a year earlier and lowest since 1994/95.

Unlike last season, however, the 2003/04 reduction is expected to occur[~]for the part[~]outside of China. Approximately 90 percent of the projected decline is attributable to reductions in the United States and the rest of the world, excluding China. Stocks the United States and foreign countries outside of China are expected to reach their lowest levels in 4 and 6 years, respectively. While China is still expected to account one-quarter of global stocks[~]8.3 million bales[~]stocks would be their lowest decade and well below the 23 million bales held by China just 5 years ago.
1:27:26 PM    comment []

This Page was last updated: 12/29/03; 3:39:41 PM
Copyright 2003 Russell Gum
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