India’s cotton exports are likely to rebound to 1.4 million tonnes in 2009-10 (October-September) at the cost of exports from the US, which are forecast to fall 20 per cent to 2.3 million tonne on year, according to International Cotton Advisory Committee (ICAC).
US exports were projected to fall on account of increased competition from other countries, ICAC said.
In 2009-10, global cotton imports were likely to rise 5 per cent from a year ago to 6.9 million tonnes on the back of a likely 8 per cent rise in China and increases in Pakistan, Turkey, Indonesia, Thailand, and Vietnam, the association of cotton producing and consuming countries said.
Global cotton prices were likely to be 5 per cent higher on an average in the year to September on expectation of increased demand for the fibre, particularly from China, India, and Pakistan, it said.
ICAC forecasts the season average Cotlook A Index at 64 cents per pound in 2009-10, up 5 per cent from 2008-09.
The multilateral body sees world cotton output for 2009-10 at 23.1 million tonnes, down 1 per cent from a year ago, on drop in acreage in China and Brazil.
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However, output is expected to rise in India, the US, Pakistan and Australia.
Cotton mill use was expected to rise 2 per cent to 23.6 million tonnes due to some recovery in the world economy, while consumption in Europe, the US, and east Asia might fall, ICAC said.