BIRKENHEAD, United Kingdom — September 10, 2012 — Beijing Cotton Outlook (BCO) has issued a revised China Cotton Balance Sheet, which shows two changes compared with its August estimates: production in 2012/13 has been lowered from 6,800,000 to 6,740,000, and consumption has been reduced from 7,700,000 to 7,600,000 tonnes.

The net effect of the changes is a rise in China's foreseeable end-season stocks, compared with the figure suggested a month ago, from 8,070,000 to 8,110,000 tonnes, which would represent roughly half of all projected world stocks. BCO's forecasts now suggest that China's stocks will increase by 1,530,000 tonnes during the course of this season, following an addition of 4,810,000 tonnes during 2011/12.

Beijing Cotton Outlook, which operates the chinacotton.org website, is a joint venture between the China Cotton Association, the China National Cotton Exchange and Cotlook Limited.

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Posted on September 11, 2012

Source: Cotlook Ltd.