Cotton demand dropping in China

According to International Cotton Advisory Committee (ICAC) recently, due to a decline in the demand for cotton, the trading is expected to fall by 21% to 7.7 million tons in a cotton year. But the ICAC also claimed , other countries except China may increase 18% of cotton import volume.

The ICAC claimed , global cotton market outlook is bleak in the 2012/2013 annual. Global cotton production is estimated at 25.9 million tons and cotton usage is estimated at 23.4 million tons. Cotton supply will exceed demand, the excess volume will reach 2.4 million tons.

Affect by lower cotton prices, the global cotton usage is expected to increase by 3% during the year 2012/2013. The slowly developing global economy is affecting the textile purchase price to a certain extent.

Global cotton stocks are expected to hit a new high during the year 2012/2013, up to 16.4 million tons, compared to last year, an increase of 17%. Currently, cotton usage is being transferred to other Asian countries from China.