The Hindu Business Line : Global cotton exports may fall by over 6% in 2008-09

NEW DELHI: Global cotton exports are expected to fall by 6.47 per cent to 7.8 million tonnes in 2008-09 due to slowing demand from textile importing countries, an international cotton body said.

Due to declining mill use, world cotton exports are now forecast to decline by 6.47 per cent in 2008-09, the International Cotton Advisory Committee (ICAC) said in a statement.

Mill use will fall by four per cent to 10.5 million tonnes in mainland China, the world's largest consumer, it said, adding that China's cotton imports would decline by 10 per cent to 2.3 million tonnes.

Consumption in China would see a fall due to “rising costs of production, the strength of yuan against the dollar and slowing demand from textile countries,” ICAC noted.

The total global cotton consumption would stand at 25.5 million tonnes, down by three per cent from previous year. On production front, ICAC said that world cotton output is projected to decline by six per cent to 24.7 million tonnes mainly due to lower demand for the fibre crop in comparison with other crops.

Production drop is seen in the US, Turkey, Brazil and Egypt but output is expected to increase in India, Pakistan and Australia, it said. The cotton season conventionally starts on in August each year. - PTI

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