U.S. cotton production significantly reduce the impact, ICAC forecast the 2008/09 marketing year, the global cotton output will be down 6 percent to 24.7 million tons, consumption is expected to decline 1 percent to 26.2 million tons. International Cotton Advisory Committee (ICAC) Tuesday (September 2) by the monthly report showed that U.S. cotton production significantly reduce the impact of the 2008/09 marketing year, the global cotton output in 2007/08 is expected to decline 6 percent year to 24.7 million tons. ICAC estimates that U.S. cotton production this year expected to reduce from 1.2 to 3 million tons.
ICAC said that because of slow growth in global consumption of cotton and polyester and cotton prices higher than the global annual cotton consumption in 2008/09 is expected to decline 1 percent to 26.2 million tons. The organization said that, subject to China’s massive demand-driven, global cotton exports in 2007 is expected to increase by 3 percent to 8.6 million tons. Other regions of the world cotton imports are expected to decline. ICAC said that global cotton end of the 2008/09 annual inventory estimates for the 10.7 million tons, representing a 12 percent decline in the year 2007/08.