A senior American cotton industry official said that United states cotton production would drop to a ten year low while India (one of the largest exports of cotton) is likely to get upper hand in 2008 and 2009 season. “It was projected that United states cotton growers would produce 15.4 million bales in 2008 and 2009 year”, commented Gary Adams, the vice president of policy analysis and economics for main industry group, the national cotton council of America on the NCC’s Annual meeting in Memphis, Tennessee.
Ironically, this would be the lowest that united states cotton has ever cropped, since 13.9 million bales which was in 1998 and 1999 year. It is also 19% below the 2007 and 2008 united states cotton crop, as calculated by the agriculture Department’s Feb monthly demand/supply report which showed at 19.3 million bales. After the prices had a huge hike, Farmers are now moving to grains like wheat and soybeans.
On the other hand, the Indian cotton world would yield more output and would expand in 2008 and 2009 season. Adams said that India’s production has doubled in the last few years and is calculated to reach almost 25 million bales in 2009. One of the key driving factors were improved yields which have soared from average 270 lbs/acre seen in 2002 to over 500 lbs in 2008.
India yet remains the highest exporter of cotton throughout the world. It has emerged as a top competitor to united states cotton exporters to china which the worlds biggest consumer of cotton. The consumptions of cotton rising high, its drop in production in U.S is surely a concern for all the experts.