Cotton in the Global Context : Discussion Paper for the Governments of Uzbekistan and Tajikistan

World Bank

Washington, DC

关键词: TAX INCENTIVES;    AUCTION;    AUCTION SYSTEM;    DEPOSIT;    HOLDING;   

RP-ID  :  103481

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Production in 2004 was actually runninghigher than consumption prior to 1995 and this has caused the existence of a world surplus ofbaled cotton in the form of stocks in warehouse. It is the existence of these “ending stocks” thathas a large effect on the international price of cotton. Consumption began tooutpace production in 2001 to 2003 period and this, mixed with crop disasters in various regions,caused the international price to rise. The reaction from many countries was to increaseproduction in reaction to this. Cconsumption failed to match this increasein production, causing a fall in prices and a renewal of the world’s ending stocks.