Worldwide cotton production is forecast at 116.0 million bales (1 bale = 480 pounds) in the 2026/27 season, nearly 5.5% or 6.6 million bales below the 2025/26 season.
World cotton mill use is forecast to increase nearly 1.5% or 1.7 million bales in 2026/27 to approximately 121.8 million bales, the highest in six years.
Mill use is projected to rise in most cotton spinning countries in 2026/27, except for Turkey and Vietnam which are forecast unchanged from 2025/26.
China and India account for more than half of the world cotton mill use total once again in 2026/27.
While, world ending stocks are projected to be 71.1 million bales in the 2026/27 season, a 7% or a 5.5 million-bale decline over 2025/26 and the lowest level since 2018/19 season.
“The decrease is primarily the result of lower 2026/27 world cotton production, with higher forecasted mill use further tightening supplies,” according to the latest USDA report.
All major cotton-producing countries are projected to contribute to the 2026/27 stock reduction. A decline for all major cotton producers is expected, except for India.
With reduced stocks, 2026/27 global cotton prices are expected to rebound from about 80 cents per pound recorded in the previous two seasons to 90 cents per pound.
Image courtesy: ANEA
