摘要：The world cotton situation for 1997/98 is characterized by higher production, consumption andending stocks when compared with the preceding year. Near-record world yields are expected toresult in production of 91.0 million bales, an increase of 2 percent from 1996/97. Estimatedconsumption of 89.3 million bales, while slightly higher than last year, is limited by theeconomic problems that have developed in Southeast Asia, Korea and Brazil. The excess ofproduction over consumption is anticipated to raise ending stocks over 5 percent, or 2.0 millionbales from the beginning level. World prices have responded predictably--the A-index has fallen12 cents since the beginning of the marketing year.
