CHINA

Severe Raw-Cotton Shortage Reported: Cotton production will rise this year, but the nation will still need significant imports to keep its vital textile industry in business, according to a U.S. government report. China produced 3.76 million metric tons of raw cotton last year, the smallest amount since the 3.54 million metric-ton harvest of 1986. China needs about 4.5 million metric tons a year for the industry, which employs more than 15 million people and accounts for more than 25% of exports and 16% of total industrial production. Widespread mill closures have been reported as raw cotton has become scarcer and more expensive.