With global cotton prices reaching a decade-high, spinning mills are stocking up on bales to meet a return in demand for cotton-based apparel products.
However, issues related to late Chinese harvests, Indian export limits and flooding in Pakistan have slowed up supplies of the fibre. Here is a snapshot of key destinations for global cotton production and its use in the textile industry.
Market leaders
- China is the world’s leading producer and consumer of cotton, with production standing at 35.5m bales in 2008-2009, while consumption was 53.5m, according to the UN Conference on Trade & Development.
- India is the second largest global producer, growing 24m bales and using 18m during the last growing season (UN).
- The US and Pakistan represent the third and fourth largest cotton growing markets repectively (UN).
- While the US grows around 13.7m bales of cotton per year, the country exports 13m of them (International Coffee Organisation).
- India trails the US for exports, shipping around 8m bales of cotton per season (International Coffee Organization).
- China is by far and away the world’s largest cotton importer, serving its vast textile manufacturing base, and imported 13m bales in 2008-2009. Its closest rival was Turkey, which imported 3.3m.
Outlook
- Cotton mill use should continue to recover next year, but more slowly than in 2009/10 due to limited available supplies and high prices, according to the International Cotton Advisary Committee (ICAC).
- India is expected to account for most of the increase in global cotton mill use in 2010/11 (ICAC).
- World cotton imports are expected to continue to recover in 2010/11, growing by 8% to 8.4m tons, ICAC predicts, with US exports projected to rise by 33% to a five-year high of 3.5m tons in 2010/11.
- World cotton production is expected to rebound by 16% to 25m tons in 2010/11 (ICAC).
- The US is driving the rebound in global production in 2010/11, with an expected crop of 4.1m tonnes, 55% larger than last season (ICAC).
