As per ICAC, the reduction in stocks this season is attributed to the sharp drop in world cotton production rather than gains in consumption.
The ongoing drop in polyester prices has cut into cotton's market share, particularly in China where polyester has been favoured over cotton in#
2015/16 world cotton production is forecast down 14% per cent to 22.5 million tons as world cotton area contracted by 9 per cent to 31.1 million hectares, in response to relatively low cotton prices.
Of the top 10 producing countries, China, the United States and Pakistan saw the largest decreases in volume. (AR)
ALCHEMPro News Desk – India
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