Global cotton inventory smaller than USDA estimate

The global cotton inventory in the upcoming 2013/14 season will be 3 percent smaller than the 93 million bales currently predicted by the US government due to shrinking output and uncertainty about demand from China, the world's No 1 importer, according to a poll of nine co-operatives, traders and analysts. The carryover for the upcoming marketing season which starts on August 1 will rise just over 1 percent to a fresh high of 88.9 million 480-lb bales, the median forecast from the poll showed. 

Source: Business Recorder