Dec '17
“The improved global economic outlook and a more favourable price relative to synthetics is responsible for the largest global cotton consumption estimate in a decade,” the Economic and Research Service of the USDA said in its latest report on ‘Cotton and Wool Outlook’.
Mill use in China, the leading spinner of raw cotton, is estimated to reach 39 million bales in 2017-18, four per cent above the preceding year and the highest since 2010-11. China is the largest supplier of textile and apparel products to the world, and it is expected to benefit from the expanding global economy this season.
Increased mill use of cotton is also forecast in India, Pakistan and Vietnam, due in part to their continued yarn shipments to China. India’s cotton mill use is projected at 24.75 million bales, up 3 per cent from 2016-17 but similar to 2015-16. Pakistan is expected to spin 10.4 million bales of cotton in 2017-18, up slightly from a year ago and the highest in 3 years.
Meanwhile, Vietnam continues to experience significant growth in its cotton consumption. In 2017-18, mill use in Vietnam is projected to reach a record 6.1 million bales, 13 per cent above the previous season, the report said.
In addition, cotton mill use is expected to increase in Bangladesh and Turkey, where gains of approximately 7.5 per cent are expected in 2017-18. (RKS)
Fibre2Fashion News Desk – India
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