China heads for smallest share of world cotton stocks in six years
After accumulating the largest cotton surplus in the world — more than double its annual crop — China is steadily disposing of its state-held stockpile. The government is scheduled to begin daily auctions of cotton from its reserves on Monday and the International Cotton Advisory Committee says that a successful season would reduce China's share of the world stockpile to 45 percent by the end of 2017/18 — the first time in six years that China holds less than half of the world surplus.