Cotton production down but high stocks reining prices: ICAC

14 Dec '15

6 min read

The Steering Committee of ICAC approved amendments to the Rules and Regulations of the ICAC that will enable the accession of the European Union as a single member. During the first semester of 2016, the Standing Committee will negotiate transitional arrangements and deal with other outstanding issues with the EU, in order to enable its accession at the beginning of the 2016/17 fiscal year. ICAC members expressed their satisfaction with the possibility of EU membership, which would strengthen their organization.

A breakout session on the collection, compilation, analysis and dissemination of cotton statistics generated a wide ranging discussion of ways in which to improve their reliability and availability. Government and the official data will remain the primary source of data on the overall performance of cotton. Accurate and timely statistics are vital for informed decision making, the delegates at the meeting acknowledged.

The 75th Plenary Meeting will be held in Islamabad, Pakistan, from October 31 to November 4, 2016, while the 76th Plenary Meeting will be held in Mozambique, the ICAC said in its concluding remark. (SH)

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