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China ending stocks may fall


Cotton stocks outside of China will increase for the third year in a row in 2018-19 and reach a record at just over 50 million bales.

Ending stocks are forecast to increase in nearly all major producing and consuming countries, as global production remains high relative to consumption.

In contrast, China’s ending stocks are forecast to fall for the fourth consecutive year and be less than half the level seen in 2014-15. Continued reserve sales and strong consumption growth in China will combine to work down stocks.

Global textile consumption continues to recovery from recessionary contractions.

Growth is expected in all of the top ten spinning countries, with continued very strong growth forecast for Vietnam and Bangladesh in particular, two countries that have led the way in growth over the last several years. India is also expected to see above-world-average growth rates after several years of sluggish performance.

World exports are forecast up over 4.4 per cent. Trade will be up in nearly all exporting countries, although in many cases not enough to offset higher production. With significantly higher exportable supplies, Brazil, West Africa, and Australia will capture a majority of the increase.

Import growth in Vietnam and Bangladesh is expected to continue alongside rising mill use.

 
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