More than 800 attend international cotton forum

19 Jul '07

3 min read

The speech of Mr. Shi Jianwei, Executive Vice-President of the CCA, related to the Chinese cotton market since China's joining to the WTO in 2001. He mainly referred to the Chinese statistics on domestic cotton production and its inconsistency. He mentioned the different forecasts published by Chinese sources themselves concerning the Chinese crop, as well as the problem of estimating the correct amount of cotton consumption in spinnery and the necessarily imported quantities.

Mr. Ray Butler, Executive Director of Cotlook Ltd., alluded to the discrepancies and explained the adjustments made by Cotlook in its own predictions. Mr. Joe Nicosia, CEO of the Cotton Trader Allenberg, USA, confirmed the subsidence slope of the statistics.

Carol Skelly from the US Department of Agriculture reviewed the development of US cotton production and consumption in recent years. Her concluding remarks referred to the increasing dependency of the US on exports as the current forecasts indicate that 80 percent of total mill use will be exported in 2007/08.

The significant accumulation of U.S. stocks in 2006/07, which resulted partly from supply and demand factors and partly from policy changes in both China and the US, has drawn increasing attention to US-industry structure and policies affecting U.S. export competitiveness.

Click here to view more:

Chinese Cotton Association

More China Cotton Association News... More Textiles News - China...