supply
(1) Definitions In this subsection: (A) Demand The term “demand” means— (i) the average seasonally adjusted annual rate of domestic mill consumption of cotton during the most recent 3 months for which official data of the Department of Agriculture are available or, in the absence of sufficient data, as estimated by the Secretary; and (ii) the larger of— (I) average exports of upland cotton during the preceding 6 marketing years; or (II) cumulative exports of upland cotton plus outstanding export sales for the marketing year in which the quota is established. (B) Limited global import quota The term “limited global import quota” means a quantity of imports that is not subject to the over-quota tariff rate of a tariff-rate quota. (C) Supply The term “supply” means, using the latest official data of the Department of Agriculture— (i) the carry-over of upland cotton at the beginning of the marketing year (adjusted to 480-pound bales) in which the quota is established; (ii) production of the current crop; and (iii) imports to the latest date available during the marketing year.