International cotton prices continued to decrease, falling below $0.40 per pound in October 2001. World cotton production should increase 7.5 percent to 20.7 million tons. Consumption, however, should amount to 19.8 tons. Consumption, however, should amount to 19.8 million tons. The season average Cotlook A Index should amount to $0.46 per pound in 2001-2002 and $0.48 per pound in 2002-2003. The People's Republic of China remained a net cotton exporter for the third consecutive season. World exports should increase 200,000 tons to 5.9 million tons in 2004-2002, with the United States accounting for 31 percent of the total. Planted area in the Northern hemisphere increased 2.9 million hectares to approximately 31.5 million hectares in 2001-2002. China increased cotton area 20 percent to approximately 4.8 million hectares. Cotton output in Turkey should increase 20,000 tons to 900,000 tons. Cotton area in the Southern hemisphere should decline 12 percent to 2.6 million hectares in 2001-2002. World cotton area in 2002-2003 should decrease 2 percent from 2001-2002 levels.