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Cotlook Estimates: Consumption Outlook For 2011/12 Deteriorates |
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2011-10-27
United Kingdom — October 20, 2011 — Cotton Outlook's consumption forecast for the 2011/12 season (August/July) has undergone a further downward adjustment, principally as a result of a decrease in projected mill use of raw cotton in China, where a modest net decline in consumption is now foreseen, relative to 2010/11. Despite a reduction in the estimate of production in the same country, forecasts of world output remain broadly intact, at just under 27,000,000 metric tons, which would represent a new record. Current forecasts thus portend a massive recovery in world supply, during the season ahead, in excess of 3,000,000 metric tons.
Source:Cotlook Ltd.
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