Home / Knowledge / News / Textiles / Cotton consumption to reach all-time high in 2018-19

Cotton consumption to reach all-time high in 2018-19

04
Aug '18
Courtesy:  Marianne Krohn on Unsplash
Courtesy: Marianne Krohn on Unsplash
Global consumption of cotton is likely to rise 4 per cent to reach an all-time high of 27.5 million tonnes in 2018-19, according to International Cotton Advisory Committee (ICAC). As a result, global reserves are set to drop by 1.6 million tonnes to end the 2018-19 season at 17.7 million tonnes, ICAC said in its August 2018 edition of ‘Cotton This Month’.

Stocks in China are projected to decrease for the fifth consecutive year to 7.5 million tonnes, while stocks outside are expected to remain stable at 10.1 million tonnes, ICAC projection said.

On the other hand, global production for the 2018-19 season is currently projected at 25.9 million tonnes, which would represent a 4 per cent decrease. This is due to a reduction in planted area for many of the world’s top producers in 2018/19, despite the prevailing high prices.

Usually, high prices drive an increase in cotton cultivation, but less-than-ideal environmental conditions and a lack of available water are cited as the main reasons for decline in production by the ICAC.

“Although China’s tariffs on US cotton helped drag international prices down from June’s season-high of 101.7 cents per pound, strong demand in Asia and Southeast Asia has helped them rebound by the beginning of August,” ICAC said.

Mentioning the current sour trade relations between China and the US, the report says it could potentially cause major shifts in global trade patterns. “China’s 25 per cent premium could prompt the US, the world’s largest exporter, to seek new markets for its fibre, while other major exporters such as Brazil are expected to fill the void by increasing their shipments to China, the world’s largest importer.”

In 2017-18, global cotton production has increased 16 per cent to 26.87 million tonnes, with increases expected from all major producers: India, China, US, Brazil, Pakistan, West Africa, Turkey, Australia and Uzbekistan. Those increases, however, are the result of expanded plantings and favourable weather conditions, as global yields posted a marginal increase of 1 per cent. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 6th May 2021

China indefinitely suspends economic dialogue with Australia

The National Development and Reform Commission (NDRC) of China has...

Pic: Shutterstock

Retail | On 6th May 2021

Ireland announces new €5 million COVID-19 Online Retail Scheme

Ireland has launched a new round of the COVID-19 Online Retail Scheme ...

Pic: Shutterstock

Textiles | On 6th May 2021

Cotlook A index expected to drop by 6.18% by June: TexPro

The Cotlook A index is expected to decline by 6.18 per cent in June...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Estimate loss of $8-$10 billion in turnover

Textile Industry, Head honchos

Textile Industry
Head honchos

Consumer sentiment will be conservative after lockdown

Textile Industry, Head honchos

Textile Industry
Head honchos

Indian apparel industry looks poised for slow death

Emmi Berlin,

Emmi Berlin

With the support of the first investors - Finland's Technical Research...

Shambhu Nath Jha,

Shambhu Nath Jha

Leading research and consulting firm Fact.MR recently launched a report on ...

Rajesh Vig & Ritu Vig,

Rajesh Vig & Ritu Vig

Rajesh Vig and Ritu Vig, promoters of the kidswear brand Happy Feet,...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

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

Leave your Comments


April 2021

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


Advanced Search