Here’s a look at some of the top stories impacting the global cotton market this week.
Tanzania, Africa’s fourth biggest cotton producer, has turned around its cotton production after a policy shift to contract farming that encourages farmers to sign purchase contracts with ginners. Under the system, aging farms have been revived, new areas have opened to cultivation, and farmers who abandoned cotton crops for work in the cities are returning to their plots.
The Cotton Association of India is estimating that the country’s cotton crop will total 395 lakh bales (170 kg each) for the 2013/14 season that began in October 2013.
The projected total is approximately 10.5 percent over the 2012/13 season total of 356.75 lakh bales. Higher yields are cited as the primary reason for the improved crop.