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USDA Cotton & Wool Outlook

15 July 2015

USDA Cotton & Wool Outlook - 15 July 2015USDA Cotton & Wool Outlook - 15 July 2015

USDA Cotton & Wool Outlook

Global Cotton Mill Use Rising; Shifting Among Countries

The latest U.S. Department of Agriculture (USDA) projections indicate that global cotton mill use is expected to expand for the fourth consecutive season. World 2015/16 cotton consumption is forecast at 114.4 million bales, 3 percent (3.6 million bales) above a year ago. China remains the leading user of raw cotton, accounting for 30 percent of the total.

However, China’s share of the global market has declined for several years, as its cotton spinning costs have increased relative to costs in other countries. As a result, cotton mill use growth has recently shifted among countries (fig. 1). Using 2012/13 as the base year, global cotton mill use is projected 6 percent higher in 2015/16—a 2 percent annual growth that is near the long-term average. Although growth has not occurred in China, mill use has expanded in countries such as India, Bangladesh, and Vietnam. In 2015/16, mill use in India and Bangladesh is expected to be about 20 percent above 2012/13. More impressive, however, is the growth seen in Vietnam recently; in 2015/16, mill use in Vietnam is expected to be more than double the 2012/13 level.

Published by USDA Economic Research Service

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