Global cotton consumption is projected to post its third straight year of growth, albeit at a much slower rate, as many of the top consuming countries are undergoing a slowdown in mill use.
According to forecasts from the International Cotton Advisory Council (ICAC), global cotton consumption growth is expected to slow to 0.04% in the 2018/19 season.
Growth in mill-use in East Asia is expected to slow to 6%, down from 14% the year before, while in Bangladesh, ICAC expects consumption growth to drop to 7% from 15% in 2017/18.
Vietnam, meanwhile, is forecast at 3%, down from seven straight seasons of double-digit growth, while after posting 15% growth in 2017/18, China is expected to see its consumption growth slow by 8%.
On the other end of the spectrum are Turkey, Indonesia, and Uzbekistan, all of which are projected to increase their consumption by double digits. India is expected to expand its mill-use as well, although by only 1%.
Production is expected to fall to 26.04m tonnes in the 2017/18 season from 26.72 tonnes in the 2017/18.
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By GlobalDataMeanwhile, ICAC says the future of the US-China trade tariffs remains uncertain, despite President Trump’s move to delay a 25% hike on US$200bn worth of imports from China. The lack of clarity is making it difficult for growers in the Northern Hemisphere to make their planting decisions for the coming season, it adds.
