Cotton Outlook
Increased competition from Africa and Australia and slow growth in world consumption cause the U.S. trade share to remain at a low level throughout the baseline.
World cotton consumption grows by an average of 1 percent annually during the baseline period, less than the population growth rate.
Cotton imports into China, South Korea, Taiwan, and Japan, traditional importers, remain flat or decline throughout the baseline period.
World cotton prices fall substantially in 1998/99 and show only moderate strength toward the end of the projection period.
Net cotton trade falls below 3.9 mmt in 1998/99, as China moves out of its historical position as significant importer.