AHMEDABAD: The International Cotton Advisory Committee (ICAC) has projected that India's cotton exports will grow 3 per cent to 990,000 tonnes in the next fiscal year, with production likely to rise by 2 per cent to 5.9 million tonnes.
World cotton trade is estimated to expand by 3 per cent to 8 million tonnes in 2017-18, with China’s import volume set to grow by 11 per cent to 1.1 million tonnes for the year. ICAC cites the growth in China's imports to its surging mill use, which continues to outpace its production.
Bangladesh’s imports are projected to rise by 3 per cent to 1.5 million tonnes in 2017-18, while Vietnam’s imports are forecast to increase by 7 per cent to 1.24 million tonnes.
The United States will remain the world’s largest exporter with its volumes rising by 5 per cent to 2.9 million tonnes in 2017-18, while India's exports are projected to grow by 3 per cent.
“After declining by 1 per cent to 24 million tonnes in 2015-16, world cotton consumption is expected to remain stable in 2016-17. Given the strong demand this season and anticipated world economic growth in 2017 and 2018, world mill use is forecast to increase by 1 per cent to 24.3 million tonnes,” ICAC noted.