摘要：The world cotton situation for 1998/99 is characterized by falling production, consumption, andtrade. However, concern has focused on falling consumption, and world prices have fallen tolevels not seen since the early 1990's. World consumption is forecast at 84.6 million bales in1998/99, 3.8 million below its year earlier level, the largest annual percentage decline (4.2percent) since the early 1970's. World production in 1998/99 is estimated 6.7 million balesbelow its year earlier level, at 84.7 million. Higher world ending stocks are expected for thefifth consecutive year in 1998/99, 500,000 bales higher than a year earlier at 41.6 million bales,or 49 percent of world consumption.
