Cotton Outlook Figures Continue To Indicate Global Oversupply

BIRKENHEAD, United Kingdom — July 19, 2012 — Cotton Outlook’s supply and demand estimates for this
season and next have been subject to only modest change during the past month or so. Production
during the 2011/12 season is forecast at 26,660,000 tonnes, down 67,000, but still a record world
crop. The figure for next season is reduced by 52,000 tonnes,to 24,878,000 tonnes.

Consumption forecasts for both seasons are unchanged on the month, at 21,639,000 and
22,915,000 tonnes, respectively.

As a result, the apparent addition to world supply during 2011/12 remains in excess of five
million tonnes, while the further increase forecast for next season dips just below two million

Full details of Cotlook’s figures for this season and next are published in this week’s
edition of the weekly Cotton Outlook magazine. For details of how to subscribe please visit, or email

Posted on July 24, 2012

Source: Cotlook Ltd.