Home / Knowledge / News / Textiles / Cotton prices unlikely to see last two season levels: ICAC
Cotton prices unlikely to see last two season levels: ICAC
06
Oct '14
In 2014/15 cotton season, the prices of cotton are unlikely to witness the levels seen during the last two seasons, because of the predicted 1.8 million tons of surplus cotton production and changes in China’s cotton policy, the International Cotton Advisory Committee (ICAC) has said.
 
Cotton prices have continued to fall in the first two months of the news season, below the around 80 US cents/lb at the end of 2013/14. On the other hand, world cotton consumption is forecast to rise nearly 4 percent to 24.4 million tons with more of the consumption occurring in the latter half of the season as the market becomes more certain about the size of the new crop and can better determine an appropriate price for cotton, ICAC said in a statement.
 
“While cotton’s absolute volume of consumption is likely to grow, it will probably not gain back much of its market share as it takes time for the market to adjust. The price volatility observed in 2010/11-2011/12 is not forgotten, and other competing fibers’ market shares have been growing,” the statement said.
 
In the ongoing 2014/15 season, area under cotton has increased by 3 percent from the last season to 33.8 million hectares, due to higher international cotton prices in 2013/14. As a result, world cotton production is forecast to go up by one percent to 26.2 million tons.
 
In China, the province of Xinjiang, where the trial subsidy is being implemented, is likely to have bigger cotton harvest than last season. ICAC projects China’s overall cotton production in 2014/15 at 6.4 million tons.
 
India is on course to become the world’s largest cotton producer in 2014/15 with expected output of 6.6 million tons, as area under cotton increased by five percent after farmers switched to cotton due to delayed monsoon.
 
In the US, cotton production is forecast at 3.7 million tons, up 30 percent from 2013/14. The projection is based on expected increase in cotton area due to plentiful rainfall which reduces the abandonment rate this season.
 
In Pakistan, cotton production is unlikely to be majorly impacted by recent flooding and is forecast at 2.1 million tons in 2014/15.
 
ICAC expects China’s cotton imports to decline by 36 percent to 2 million tons in 2014/15, and accordingly, world imports would drop 11 percent to 8 million tons. (RKS)
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X