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Cotton Production Seen Growing, Prices Seen Rising

The recovery in cotton production for 2017-18 will continue, and growth is projected at 11 percent as planting area is expected to increase, yielding a projected 25.4 million tons, the International Cotton Advisory Committee reported.

Following the sharp drop in production in 2015-16, production in 2016-17 recovered 7 percent to 23 million tons. Production in the U.S. for the current season is expected to increase 25 percent to 4.7 million tons, ICAC said.

India remains the world’s largest producer, with 2017-18 production expected to grow 8.7% to 6.2 million tons. The second largest producer, China, has production currently projected at 5.2 million tons, representing a 7.1% increase. Pakistan’s production projections for 2017-18 show an 11.5% increase to 1.9 million tons, while production in Turkey is estimated to grow 18 percent to 829,000 tons. Other major cotton producing countries are expected to have positive growth attributed to increased area and yields.

Read more at Sourcing Journal.

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