Report: Global Cotton Exports to Rebound in 2009/10
May 7, 2009 Global cotton exports are likely to rebound in 2009/10 by 8.1% to 6.6 million tons on recovery in demand in China, India and Pakistan, the three largest cotton consumers in the world, an international cotton body has said.
India, the world’s second-largest cotton producer, is likely to account for most of the expected rise in exports, with shipments forecast to double at 1.2 million tons in 2009/10, the International Cotton Advisory Committee (ICAC) said in a statement.
“The world imports are projected to be higher by 11% at 6.6 million tons. An expected increase in imports by China to 1.7 million tons would significantly contribute to this rebound,” it said.
World cotton trade declined in 2008/09 due to a sharp reduction in demand in China, the largest cotton consumer, accounting for around 40% of global cotton mill use.
The global cotton consumption is forecast to increase slightly to 23.1 million tons this year, assuming a modest recovery in the world economic growth in 2010, it said.
According to the ICAC, cotton consumption may slightly recover in China (Mainland), India and Pakistan, but continue to decline in many smaller consuming countries.
Nevertheless, the world cotton trade is expected to recover even as production is projected to decline for the third consecutive season in 2009-10 to 23.4 million tons.
From the Hindu News Update Service
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