World Cotton Supply Expands

WASHINGTON - Apr 9/08 - SNS -- World cotton production estimates for 2007-08 show slightly higher production, consumption, and ending stocks compared with last month, according to the latest supply and demand update from the USDA's World Agricultural Outlook Board.

Production is raised mainly in India and the United States. Consumption is raised in Pakistan and the United States, partially offset by small reductions in several countries. Imports are reduced for China and other countries, but raised for Pakistan. World stocks are raised by slightly less than 1%.

This month's estimates for 2007-08 U.S. cotton include higher production, domestic mill use, and ending stocks. Production is raised nearly 400,000 bales to 19.4 million based on the final Cotton Ginnings report released by the National Agricultural Statistics Service in late March. Domestic mill use is raised 100,000 bales to 4.7 million due to higher than anticipated activity in recent months. The export estimate is unchanged. Accordingly, forecast ending stocks are raised 300,000 bales to 9.7 million, slightly above last season and the highest level since 1966-67.

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