In its latest report, the International Cotton Advisory Board (ICAC) said that following two years of decline in cotton acreage, the global cotton area in 2017-2018 is forecast to increase by 11% to 32.5 million hectares. As a result, global cotton production is forecast to increase by 12% in 2017-2018 compared to 7% in 2016-2017.

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Cotton area in India is estimated at 11.55 million hectares, with production expected to rise by 8.7% to 6.2 million tonnes. In the 2007-2018 season, cotton acreage in the United States continued to increase in the second year, estimated at 20% to 4.6 million hectares. In Pakistan, the area planted to cotton in 2017-2018 is expected to increase 24% to 3.1 million ha after a few years of decline, with production expected to increase 24% to 2.06 million tons.

Production is expected to increase in all major producing countries in 2017-2018, including China, Brazil, French and Turkish African countries.

Global cotton consumption is projected to increase by 3% to 25.2 million tons in 2017-2018. Cotton consumption in the plant is also forecast to grow moderately in India, Brazil, Turkey, Bangladesh, Vietnam and Pakistan. In China, cotton consumption in the factory is projected to increase 1% to 8.12 million tonnes while imports are expected to remain stable due to declining consumption and consumption.

The gap between cotton and polyester prices has been narrowing since mid-2017, although recent cotton prices may push up cotton consumption. While consumption at the plant is increasing, stockpiles will continue to increase as production rises faster than consumption.

Hoang My Lan: Theo http://www.fibre2fashion.com