The Foreign Trade of Latin America : a Report On the Trade of Latin America With Special Reference to Trade With the United States .. Pt.3, V.1
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Although Latin American exports of cotton may be adversely affected "ty the European war, the situation will depend largely on the price relationship with United States cotton. In 1937-38, total world con- sumption amounted to 27.5 million bales, of which 40 percent was United States cotton. Europe, exclusive of the self-sufficient Soviet Union, used about 8.2 million bales, of which 3.7 million bales were from the United States and 4.5 million bales were "other cotton." Consumption in Germany ...has been greatly reduced by the war. Coxmtries which may maintain or increase cotton consumption are the United States, which consumed 5.7 million bales in 1937-38 (practically all domestic); 165 Japan, which consumed 3.5 million bales (1,2 million bales were United States cotton); and Latin American co\mtries, which together conffumed 1,5 million bales (practically all Latin American grown). The world market for export cotton of medium staple has been a little over 7 million bales, of which the United States has supplied between 5 #5 million and 6 million bales (only 3.3 million in 1938); most of the remainder is supplied ty Latin America.
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