The World Agriculture Supply Demand Estimates released today by the United States Department of Agriculture, projects the world cotton ending stocks of 41.55 million bales (480 pounds each) for the marketing year 2010/11. This is 780,000 bales less than the March projection. Considering the ending stocks for the 2008/09 season, the world's cotton stock will end 18.97 million bales less as the ending stocks for the 2008/09 season were 60.52 million bales.
There have been some new developments around the world as far as Australia, which may be of interest to the Indian textiles sector. As has been the case in recent months, cotton and technical textiles have garnered much attention. India has officially launched the Technological Mission on Technical Textiles with the announcement of the creation of four new Centers for Excellence in Technical Textiles. While this is happening in India, the Central Government of Australia along with some partners has set up a huge program to boost technical textiles. Cotton is occupying an important part of the textiles equation with the December New York Futures settling at $1.32 per pound on Monday, April 25th. Meanwhile, the Indian spinning body, SIMA, has pleaded directly to the Prime Minister of India to stop cotton exports till the end of January each year. This article highlights these developments so as to better inform the Indian textiles industry of the happenings in India and elsewhere.
Originally Published in Textile Review, May-2011
The author is associated with Nonwovens and Advanced Materials Laboratory, The Institute of Environmental and Human Health Texas Tech University, Lubbock, Texas USA.
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