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Economy 05/02/2008 ICAC sees steady world cotton area in 2008-09
World cotton area is projected remain stable in 2008/09 at 33.9 million hectares, less than 1% higher than in 2007/08. Cotton area is projected to decline mostly in the USA (-11%), slight increases are expected in China (Mainland), India, African Franc Zone and Brazil, while stable area is projected for Pakistan, Turkey and Uzbekistan

World cotton yields are expected to continue rising in 2008/09 and are projected at 794 (+3%) kilograms per hectare. As a result, world cotton production in 2008/09 is expected to increase by 1 million tonnes to 26.9 million tonnes. However, world mill use is projected to increase further to 27.4 million tonnes (+1%), still exceeding production. As a result, a further reduction in world ending stocks could take place to an estimated 10.9 million tonnes (-5%).

The Secretariat, using the ICAC Price Model 2007, forecasts a season-average Cotlook A Index of 67 cents per pound in 2007/08, 8 cents higher than in 2006/07. An expected significant decline in the stocks-to-mill use ratio in the World-less-China (Mainland) is pushing prices higher in 2007/08.

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