By admin       2018-04-04

The ICAC’s price forecast came as it trimmed by 220,000 tonnes, to 17.93m tonnes (82.4m bales), its estimate for cotton inventories at the close of 2018-19. Stocks at that level would be the lowest since 2011-12, when US inventories were recovering from a 20-year low. The committee, highlighting a “positive” short-term outlook for the cotton market, flagged the prospect of accelerating growth in demand for the fibre, seen increasing by more than 1.1m tonnes next season, after an 880,000-tonne rise in 2017-18. “Consumption – which has steadily increased over the last three seasons – is expected to continue rising,” the ICAC said. It noted factors including “the rising production costs of synthetic fibres and growing awareness of the environmental damage being caused by microfibre pollution”

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