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Global cotton area to fall 8% by 2012-13 - ICAC
02 Dec '11
2 min read
After jumping to record highs in 2010/11, cotton prices dropped sharply in the current season, reducing farmers' incomes and decreasing for the first time in three years the attractiveness of this crop when compared to that of its main alternatives.
As a result, the Secretariat projects global cotton area to contract in 2012/13 by 8% to 33.3 million hectares and production to decrease by 6% to 25.1 million tons. Cotton production is expected to decline in most large producing countries, with the exceptions of the United States, Uzbekistan, and Australia.
Following two seasons at depressed levels, global cotton mill use is forecast to start growing again in 2012/13.This expectation is highly dependent on the assumption of a recovery in global economic growth that would stimulate purchases of textile products and consumption of raw fibers. The Secretariat forecasts global cotton mill use to rise by 3% in 2012/13 to 25.0 million tons, driven by Asia.
Rising mill use and lower cotton prices could fuel a rebound in world cotton trade in 2012/13. Imports and exports are expected to jump by 9% to 8.4 million tons. As global production and consumption are expected to roughly balance in 2012/13, global cotton stocks are forecast to increase only slightly, to 11.6 million tons.
The International Cotton Advisory committee (ICAC) is an association of governments of cotton producing,consuming and trading countries. The Committee was formed in 1939,and the Secretariat was established in 1946. The annual budget is US$1.8 million,of which about 85% come from government assessments and 15% from the sale of subscriptions and participant fees at meetings and seminars.
As a result, the Secretariat projects global cotton area to contract in 2012/13 by 8% to 33.3 million hectares and production to decrease by 6% to 25.1 million tons. Cotton production is expected to decline in most large producing countries, with the exceptions of the United States, Uzbekistan, and Australia.
Following two seasons at depressed levels, global cotton mill use is forecast to start growing again in 2012/13.This expectation is highly dependent on the assumption of a recovery in global economic growth that would stimulate purchases of textile products and consumption of raw fibers. The Secretariat forecasts global cotton mill use to rise by 3% in 2012/13 to 25.0 million tons, driven by Asia.
Rising mill use and lower cotton prices could fuel a rebound in world cotton trade in 2012/13. Imports and exports are expected to jump by 9% to 8.4 million tons. As global production and consumption are expected to roughly balance in 2012/13, global cotton stocks are forecast to increase only slightly, to 11.6 million tons.
The International Cotton Advisory committee (ICAC) is an association of governments of cotton producing,consuming and trading countries. The Committee was formed in 1939,and the Secretariat was established in 1946. The annual budget is US$1.8 million,of which about 85% come from government assessments and 15% from the sale of subscriptions and participant fees at meetings and seminars.
International Cotton Advisory Committee (ICAC)
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