Cotton Council International (CCI) has released its latest projections for world and U.S. cotton production. Statistics of note include:
• World cotton production is projected by USDA to be 113.5 million bales in 2010-11, up 12 million bales from 2009-10 (101.7 million bales).
• U.S. cotton production will be up nearly 4 million bales, from 12.2 million bales in 2009-10 to 16 million bales in 2010-11.
• U.S. cotton acreage will be up 15 percent (and 1.4 million acres), from 9.1 million acres in 2009-10 to 10.5 million acres in 2010-11. This would be the first increase in three years.
• World beginning cotton stocks will be down 19 percent, or 12 million bales, from 62.8 million bales in 2009-10 to 50.9 million bales in 2010-11.
• U.S. share of Chinese imports was 60 percent in 2008-09, but dropped to 25 percent in 2009-10.
• India’s share of Chinese imports was 10 percent in 2008-09, but grew to 40 percent in 2009-10.