This chapter summarises the current situation and medium-term projections for world cotton markets during 2014-23. Expected developments in national and global cotton prices, production, use, trade (imports and exports) and stocks, and the background to these developments, are discussed. The underlying quantitative projections are developed with the aid of the partial equilibrium Aglink-Cosimo model of world agriculture. A separate section examines China’s cotton policies, which are a significant source of variation and uncertainty during the outlook period. Other sources of uncertainty addressed include shifts in consumer demand and trends in both agricultural and industrial technology.