International cotton prices have continued to move upward over the last few months as the season has been underway. From the season low of 77 cents per pound at the start of season, prices are at a season high at the end of this calendar year up to 88 cents per pound. The current season average of 80 cents per pound is lower than the 2016/17 average of 83 cents per pound. With a lower international price from the previous season and the rising price of competing fibres, global consumption is expected to grow. After stagnating in 2016/17, global cotton demand is expected to increase 3% in 2017/18 to 25.2 million tons. Chinese mill use is expected to remain stable at 8.1 million tons, while India and Pakistan are expected to increase 3% and 4% respectively. Consumption in Vietnam is expected to grow 12% to 1.3 million tons. Moderate growth of 2-3% is expected for other major consuming countries of Bangladesh, Turkey and the United States.
WORLD COTTON SUPPLY AND DISTRIBUTION | |||||||
2015/16 | 2016/17 | 2017/18 | 2015/16 | 2016/17 | 2017/18 | ||
Changes from previous month | |||||||
Million Tons | Million Tons | ||||||
Production | 21.48 | 22.99 | 25.43 | 0.00 | -0.01 | -0.31 | |
Consumption | 24.18 | 24.52 | 25.22 | 0.00 | 0.00 | 0.00 | |
Imports | 7.57 | 8.11 | 8.35 | 0.00 | -0.05 | 0.19 | |
Exports | 7.55 | 8.07 | 8.35 | 0.00 | -0.05 | 0.19 | |
Ending Stocks | 20.26 | 18.77 | 18.98 | 0.02 | 0.06 | -0.25 | |
Cotlook A Index* | 70 | 83 | 74* |
International Cotton Advisory Committee published this content on 03 January 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 03 January 2018 15:29:08 UTC.
Original documenthttps://www.icac.org/Press-Release/2018-(1)/PR-1-2018-Global-Consumption-Increasing
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