The International Cotton Advisory Committee (ICAC) said that the cotton exports from India, Brazil and the US are expected to increase in 2008-09 (Oct-Sep).
“World cotton production, however, is expected to decline in 2008-09 by 5 per cent to 24.9 million tonne due to a fall in the acreage as well as the yield,” ICAC said in a release.
ICAC said the likely decline in global output in 2008-09 will be mainly because of a fall by over 1 million tonne in US production to 3.1 million tonne, compared with the output in 2007-08.“World imports are expected to increase by 6 per cent to 8.8 million tonne in 2008-09 owing to larger imports by China.”
India is likely to export 8.5 million bales out of the total estimated output of 31.5 million bales in 2007-08 (Oct-Sep), compared with export of 5.8 million bales out of total output of 28.0 million bales in 2006-07, according to Indian Cotton Advisory Board.
Global consumption of cotton by mills is also expected to decline by 1 per cent in 2008-09 to 26.4 million tonne because of slowdown in the global economic growth and higher prices of cotton relative to polyester.