Date Posted: 1 July 2019
Highlights from the July edition of Cotton This Month:
RisingStocks and Uncertain Demand Cloud the Outlook for 2019/20
If trends hold, consumption will outpace production by 1 million tonnes in 2018/19, with projected totals of 26.7 million tonnes and 25.7 million tonnes, respectively.
Major producers including the USA, Pakistan and Australia suffered production losses due to poor weather conditions and lack of available water, but Turkey andBrazil both posted positive totals in 2018/19, with Brazil setting a record-high production of 2.7 million tonnes.
The2018/19 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.
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About the International Cotton Advisory Committee(ICAC)
Formed in 1939, the ICAC is an association of cotton producing, consuming and trading countries. It acts as a catalyst for change by helping member countries maintain a healthy world cotton economy; provides transparency to the world cotton market by serving as a clearinghouse for technical information on cotton production; and serves as a forum for discussing cotton issues of international significance. The ICAC does not have a role in setting market prices or in intervening in market mechanisms. For more information, please visitwww.icac.org.