GLOBAL: International Cotton Prices Forecast Higher in 2008/09
The ICAC forecasts a season-average Cotlook, an Index of 79 cents per pound in 2008/09, 6 cents higher than the expected 2007/08 average. This projected price increase is due mainly to an expected decline in the stocks-to-mill use ratio in the World-less-China. World cotton production is projected to decline slightly…
Egytex News Desk
Egytex
Global cotton mill use is expected to remain stable at 26.7 million tons in 2008/09 due to slower world economic growth and higher prices of cotton relative to polyester.
World consumption is expected to exceed production in 2008/09. As a result, world ending stocks are forecast down by 6% to 11.3 million tons.
World imports are expected to increase by 5% to 8.8 million tons in 2008/09 due to projected higher imports by China. Imports by the rest of the world are projected down for the second consecutive season.
Source: International Cotton Advisory Committee (ICAC)
From the Egytex news archive, first published on 3 June 2008. Figures and names are as reported at the time.
