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“Higher cotton prices during 2016-17 and better cotton price ratios to other competing crops during 2017 planting campaign resulted in expansion of cotton area by an estimated 3 million hectares to over 32 million hectares,” says the International Cotton Advisory Committee (ICAC) in its latest report.
During 2017-18 the largest gain in production of 23 per cent to 4.6 million tons is projected in the US. Production is also projected to increase in all other major producing countries during 2017-18, including India, China, Pakistan, Brazil, Francophone Africa and Turkey, ICAC said.
Global cotton mill use is projected to increase at an improved growth rate of 2.7 per cent during 2017-18 reaching 25.2 million tons. In comparison, during 2016-17 world cotton mill use grew by 1.6 per cent. Mill use in China is projected to grow by 1.5 per cent to 8.1 million tons. Cotton mill use is also projected to grow moderately in India, Pakistan, Turkey, Bangladesh, Vietnam and Brazil.
In 2017-18, world trade is projected stable at 8 million tons and US will remain the largest exporter accounting for 40 per cent, or 3.1 million tons of world shipments. Bangladesh will remain the largest importer in 2017-18 accounting for 18 per cent, or 1.4 million tons of world imports. (RKS)
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