Global Cotton Acreage Will Be Reduced During 2012-13 8%
After 2010-11 years significantly improved and innovative high cotton prices, cotton prices fell sharply this year, farmers ' income, compared with the major alternative to cotton, cotton appeal weakened for the first time in three years.
Therefore, the International Cotton Advisory Committee (ICAC) Secretariat expected that global cotton acreage will be reduced by 8% 2012/13, to 33.3 million hectares, output 6%, to 25.1 million metric tons. Production expected to fall in most major cotton producing countries, but the United States, and Uzbekistan and Australia exception.
After two years of gloom,, 2012/13 global textile mills expected to start growing again. The expected recovery is highly dependent on global economic growth assumptions, if the recovery in global economic growth will stimulate consumption of textile products as well as raw fibre. The Secretariat expected, 2012/12 cotton mill in the world will be driven by the Asian 3%, from 25 million tons.
Textile mill increase, falling cotton prices, may stimulate 2012/13 of world cotton trade picked up. Imports and exports are expected to improve 9%, to 8.4 million tons. As roughly balanced in 2012/13-global production and consumption and, therefore, global cotton inventories is expected only a slight increase to 11.6 million tonnes.
The International Cotton Advisory Committee (ICAC) is a cotton producer and consumer Governments and trade associations. The Committee was founded in 1939, the Secretariat was established in 1946. Annual budget of $ 1.8 million, of which about 85% from Government assessments, 15% from subscription sales, and costs for Conference and seminar participants.