Cotton Outlook Figures Indicate Rising Surplus In 2012/13
For the season just ended, the margin is widened by just over 200,000 tonnes, to 5,224,000.
The implied oversupply for 2012/13 has risen by 1,085,000 tonnes since July, and now stands at over three million tonnes.
The most substantial revisions concern prospective production and consumption in China, which are raised by 424,000 and lowered by 700,000 tonnes, respectively.
Source: Cotlook Ltd.
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