Global Cotton production may also outpace demand in 2019-20: ICAC by admin- Thursday, October 3rd, 2019 08:43:38 PM
The International Cotton Advisory Committee (ICAC), in its cotton summary for October 2019, noted that international production – projected at about 26.Eight million tonnes – is anticipated to slightly outpace worldwide consumption, projected at 26.5 million tonnes, for the 2019-20 12 months, which started from August.
The East Asia area will continue to guide the sector in intake, but boom likely may be modest, and China’s 2018/19 intake general of eight.25 million tonnes is expected to stay unchanged inside the coming season.
Several foremost ingesting nations must see gains – together with India, Bangladesh and Vietnam – but typical growth is slowing, and none of these international locations is likely to peer gains of two% or extra, except Indonesia (projected four% boom over 2018/19), ICAC said.
With ample elements and weak export demand, the rate at the Cotlook A Index has dropped to its lowest point seeing that 2016, the report said.