“China is expected to end 2014-15 with 12.4 million tons of cotton stock, up 3 per cent from last season,” it observed.
According to the International Cotton Advisory Committee (ICAC), excess cotton stocks held outside China are likely to keep international cotton#
World consumption is forecast to rise 2 per cent to 24.1 million tons in 2014-15 and just before the start of 2014-15, cotton prices fell quickly while polyester prices remained flat.
“However in the following months, polyester prices have also dropped, diminishing the likelihood that cotton will regain market share from polyester,” ICAC noted.
ICAC projects that cotton consumption is likely to grow modestly next season, driven by increases in population and moderate economic growth.
In 2015-16, world consumption is projected to expand 2 per cent to 24.5 million tons as spinning shifts from China to the rest of Asia.
Low domestic cotton prices may enable cotton consumption in China to rise 2 per cent to 7.7 million tons in 2014-15 after falling for four consecutive seasons.
However in 2015-16, ICAC expects Chinese consumption to remain stable at 7.7 million tons as domestic yarn competes with imports.
In the first three months of 2015, imports of cotton yarn into China mounted 15 per cent to 590,500 tons compared with the same period in 2014.
“After a significant fall in 2014-15 to 7.5 million tons, world imports are expected to stage a partial recovery, increasing 3 per cent to 7.7 million tons in 2015-16,” ICAC concluded by saying. (AR)
Fibre2fashion News Desk - India
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