NEWS AND EVENTS
September 9, 2006
Analysts forecast growth for cotton consumption
For a long time, the majority of cotton-industry analysts were inclined to think that the cotton production volume would increase insignificantly in the 2006-2007 season.
What`s more, the latest preliminary data published by the International Consultancy Committee on Cotton on August 1, 2006, forecast a 0.1 million tons reduction against the previous, 2005-2006 season. Bad weather conditions in the US are cited as the main reason behind such a drop in the overall volume of cotton production, the Business Partner.Uz reported on September 8, 2006.
It is expected, at the same time, that the minimum reduction of 0.2 million tons will be compensated by a rise in the volume of cotton production in China, India, Pakistan and Central Asian states, where the forecast of increased production volumes is quite favorable.
Unlike the decline in cotton production forecasted by international experts, the volume of cotton consumption will continue to grow at the rate of 3 per cent - from 25.0 million tons to 25.9 million tons. It is the biggest growth indicator since records began. China will account for a lion`s share of increase in cotton consumption - up to 10.5 million tons (or 6 per cent), according to the weekly.
Analysts from the International Consultancy Committee on Cotton forecast that the volume of cotton imported to China in the 2006-2007 season will remain at the record high level of 4.2 million tons. This will allow maintain the volume of world trade in cotton at 95 million tons. In addition, India, according to local forecasts, will advance to third place in the same period in terms of cotton exports volumes, after the US and the Republic of Uzbekistan. In the 2006-2007 season India is expected to export more than 800,000 tons of cotton, the paper also wrote.