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ICAC:Cotton prices to fall in 2011-12


http://www.texnet.com.cn  2011-08-03 13:46:46  来源:thenews.com.pk 收藏
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LAHORE: International Cotton Advisory Committee (ICAC) has said that cotton prices would decline in 2011-12 because of higher production despite an expected 12 percent decline in United States the third largest producer of cotton in the world.

The ICAC states in statement that season-average Cotlook A Index reached a record of $1.64 per pound in 2010/11, twice as high as the 2009/10 average. However, the season-average A Index will decline in 2011/12, as an increase in production will replenish stocks.

World cotton production is expected to rise by 8 percent to 26.9 million tons in 2011/12, driven by the high cotton prices received by farmers in 2010/11. Production will rise in most large producing countries, with the exception of the United States.

Production could reach records in India and Australia. Despite a significant increase in US planted area, severe drought conditions in Texas will not only increase abandonment but also limit yields. US cotton production is forecast at 3.5 million tons in 2011/12, down 12 percent from the previous season.

World cotton mill use is expected to resume rise in 2011/12 if projected global economic growth materialises, boosted by more availability of cotton, but moderated by relatively high cotton prices and competition from chemical fibres. Cotton mill use is forecast at 25.0 million tons in 2011/12, 2 percent up from last season.

As a result of the surplus of 1.8 million tons expected in 2011/12, world ending stocks could rebound by 20 percent to 10.9 million tons. The global stocks-to-use ratio could recover from 37 percent in 2010/11 to 43 percent in 2011/12.

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文章关键词: Cotton prices  2011-12 
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