The first U.S. Department of Agriculture (USDA) cotton forecast for 2013/14 projects that world cotton production will decrease while consumption increases, although consumption is expected to remain below production for the fourth consecutive season.
Global production is projected to decline about 3 percent from 2012/13 (to 117.8 million bales) as cotton area is reduced slightly in 2013/14. World cotton production will be at its lowest in three seasons, with China, India, the United States, and Pakistan accounting for more than 70 percent of global cotton production in 2013/14.
World cotton consumption for 2013/14 is projected at 110.4 million bales, a 2-percent increase from the current season, as use continues to rebound from 2011/12’s 8-year low. Modest growth in world gross domestic product (GDP) is expected to support cotton consumption.
China, India, and Pakistan are expected to lead global cotton mill use and account for a combined 65 percent of world consumption in 2013/14.
