World Cotton Day

  Global cotton mill use in 2024/25 is projected at 116.2 million bales, nearly 3.5 percent above 2023/24’s revised estimate of 112.4 million bales and its highest in 4 years. Stable global economic growth expectations and lower cotton fiber prices compared with a year ago are projected to support increased world cotton mill use in 2024/25. Cotton mill use in China—the leading cotton spinner —is projected at 38.0 million bales in 2024/25, 500,000 bales (1 percent) above the previous year. China is forecast to account for 33 percent of global cotton mill use in 2024/25. Mill use in India is projected to increase 2 percent (500,000 bales) to 25.5 million bales as rising product exports support the mill use gain .  India is expected to account for 22 percent of the world mill use total in 2024/25. Pakistan’s 2024/25 cotton mill use is forecast at 9.6 million bales, 2 percent above the year before as larger supplies are available to local textile mills. Higher cotton mill use in...

 World cotton trade in 2024/25 is forecast at 43.5 million bales, compared with 44.7 million bales in 2023/24. With global cotton mill use projected to expand in 2024/25, most major importing countries—excluding China—are expected to experience higher imports as well. Global cotton imports are forecast only slightly higher at 43.6 million bales in 2024/25, as China is projected to reduce its imports considerably this season. China, Bangladesh, and Vietnam are projected to be the largest importers in 2024/25, with imports of 10.0 million bales (-4.8 million bales), 7.8 million bales (+500,000 bales), and 7.1 million bales (+400,000 bales), respectively. Small export gains are seen for several countries but larger decreases elsewhere more than offset the gains. Larger exportable supplies in Brazil and the United States this season contribute to their small gains, while India’s lower crop projection limits its cotton export opportunities. Brazil and the United States are expected to a...

Cotton estimates for China play a major role in the global supply and demand outlook . China is by far the single largest cotton spinning country —contributing one-third of global cotton mill use—and is the largest stockholder—accounting for nearly half of the world’s surplus stocks each year. China is also among the leading cotton producing and importing countrie s. China’s prominence in the global cotton market emphasizes the importance of USDA’s China cotton supply and demand projections , with back-year estimate adjustments sometimes deemed necessary after reexamining historical data or considering additional information. The August 2024 revisions to China’s supply and demand balance sheet for 2015/16–2022/23 are a reevaluation of previous production, use, and stocks data. During the 8-year period, China’s cotton area and production outside of Xinjiang declined due to subsidy policy changes and decreased faster than previously estimated. The non-Xinjiang revisions led to a cumula...