Against the backdrop of the lower production by some of the main consumer countries such as Pakistan and Turkey, global imports are expected to increase to 9.4 million tons in 2019/20.
Exports from Brazil to China that grew compared to the previous season due to the trade dispute between China and the US, is expected to continue to register record exports in 2019/20. Argentina's cotton production in 2019/20 is estimated at 358 000 tons that will also contribute to export growth to China for the region.
China’s production for 2019/20 is estimated at 5.5 million tonnes versus consumption of 8.05 tonnes while ending stocks will decrease to 8.4 million tonnes. Droughts and related circumstances in Australia will continue and the latest forecast indicate production of 170 000 tonnes of fibre that represent the lowest production over the past ten years.
The projection for global production is revised downward up to 25.9 million tonnes of fibers While world consumption is estimated at 26.2 million tonnes. This is the second consecutive year that global demand will exceed global production. This has resulted in stock levels adapted downwards to 18 million tonnes that represents the lowest levels since the 2014/15 season.
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