| Cotton inventories at the end of July 2014 will be 11 percent higher than estimated last month as production gains outpace improved demand, according to an industry group.
Stockpiles will climb to 18.25 million metric tons, the equivalent of about nine months of global mill use, and up from 16.44 million forecast a month earlier, the International Cotton Advisory Committee said today in an e-mailed statement. In the 12 months that start Aug. 1, production will be 24.61 million, up 4.9 percent from April’s projection, the Washington-based group said. The consumption estimate was increased 2.3 percent to 24.25 million tons...............................................Full Article: Source |