Approximately two-thirds of all participants were from the private sectors of their countries and one-third represented governments or international organizations.
The theme of the Plenary Meeting, “Shaping sustainability in the cotton value chain” provided an opportunity to take a closer look at the cotton value chain using a sustainability framework.
Cotton’s Position in the World Market: Planning for the Future: The Secretariat reported that world cotton production is expected to decrease by 6% to 26 million metric tons in 2012/13, while mill use is expected to rise by 3% to 23 million tons.
After rising to a record in March 2011, cotton prices have declined significantly. Cotton consumption is forecast to remain below production during 2012/13, causing stocks to rise.
International trade in cotton is expected to fall to 8 million tons during the current season. The Secretariat reported that current prices for cotton, combined with rising prices for food crops, will likely reduce global cotton area in 2013/14.
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International Cotton Advisory Committee (ICAC)
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