Stage set for U.S. cotton acreage revival
June 30, 2008,
New York – Today’s 20-year low in U.S. cotton acreage, combined with changing priorities in competing cotton-growing nations, means that U.S. production is likely to expand in coming years, according to a new study.
U.S. cotton acreage fell by almost 30% in 2007-08, to some 11 million acres -- its lowest level in 20 years, the FAR reports in its new “U.S. Cotton” survey.
The forecast for the 2008-09 year shows that cotton acreage is forecast to continue falling, declining another 13% to just over 9.4 million acres -- the lowest level since 1983.
But China, suggested FAR, may cut back on cotton acreage in favor of expanded cultivation of grain and oilseed crops.
Production in India, where cotton yield has been booming, is projected to slow down to a 5% growth in the coming year, FAR said.
Urbanization is another factor affecting land use in these rapidly developing countries, the study pointed out. Complete information on the U.S. Cotton study is available at www.rabobank.com. Rabobank is a financial services company specializing in food and agriculture.
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