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Global cotton consumption pruned
Due to uncertainties in the world economy and trading market, the International Cotton Advisory Committee (ICAC) Secretariat has revised its global consumption forecast for 2018/19 downward to 27.5 million tonnes.
Uncertainty over cotton prices in 2017/18
The International Cotton Advisory Committee’s Secretariat has forecast that the A Index in 2017-18 will range between 54 cts/lb and 87 cts/lb with a midpoint of 69 cts/lb. The midpoint would be 13 cts/lb lower than in 2016/17. This follows the large increase of 12 cts/lb from 2015-16 to 2016-17, which suggests that such a drop is not unreasonable.
Cotton to end with 6-bn bale dip
According to the USDA first 2017/18 cotton projections at the Agricultural Outlook Forum, it was disclosed that there will be a 6-million-bale decline in global ending stocks.
Small rise in Indian cotton intake likely
India is estimated to consume 29.5 million bales of cotton (170 kg each), this season ending this September. Within one month of its recent estimate, Mumbai-based Cotton Association of India (CAI) has revised the estimate of India’s cotton consumption and import numbers.
Cotton prices may fall due to increased supply
The International Cotton Advisory Committee Secretariat has forecast that the season-average Cotlook A Index in 2016/17 will range between 66 and 83 cts/lb, with a midpoint of 74 cts/lb, which would be 4 cts/lb higher than last season.
Cotton crop on the rise amid shrinking acreage
India expects to produce 35.1 million bales (170 kg) this season beginning in October. India’s official body, Cotton Advisory Board met in Mumbai and decided on this year’s first estimate of cotton production.
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