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Low cotton consumption to impact production in new season
11
Apr '09
Cotton markets witnessed violent fluctuations during 2008, with its prices at both extremes; reaching its peak, as well as tumbling down to decline up to 40%. Declining textile productions in countries like India, China, and Pakistan is causing drastic effects in the cotton yarn prices. Decline in the sales of the consumers from the western countries is also causing concern.

Due to the economic slowdown, demand for cotton continues to nosedive leading to the world's largest cotton producing countries like China and India restricting their land area that they devote to cotton cultivation. Weak prices in the global global market are highlighting the lack of price support from fundamentals. Cotton outlook anticipates a fundamental tightening in 2009/10.

China is the world's largest consumer of cotton. Decline in the cotton production of China is expected to be around 8%, and its consumption is expected to fall by 6%. Many textile mills in China have opted for shutdowns, and layoffs; unable to ride the tide of recession.

Economists, still positively anticipate a change in the economic state, following a boom in the coming months.

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Fibre2fashion News Desk - India

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