World cotton production will decline by 9.2% in 2015-2016, say in the ICAC

Almaty. October 15. Silkroadnews - World production of cotton in the season 2015-2016 years will decrease by 9.2% - to 23.9 million tons, consumption will grow by 2% - up to 25 million tons. These data led the International Cotton Advisory Committee (ICAC), KazTAG reports.
"Global stocks at the end of the season 2015-2016 will be decreased by almost 9% to 20.4 million tonnes, the ratio of stocks to consumption is 81.6%", - reported in materials of ICAC at the opened XI Tashkent Cotton Fair.
According to preliminary estimates of ICAC, improve the balance of the world market will keep prices in the season of 2015-2016 years, which will be balanced at the level of 67-68 cents per pound (450 g.) On the one hand influenced by weakening demand in China - the other expected high harvests in major producing regions - the United States, India, Pakistan, Brazil and Uzbekistan.
"China has sharply reduced the consumption of two years due to the continuing strong competition from imported polyester and cotton products. At the same time consumption is compensated by increasing offset in India, Vietnam", - from the data of ICAC.
According to the system counts the international cotton industry, cotton season runs from August 1 of each of the current year to 31 July of the following year.
International Cotton Fair in Tashkent, held under the auspices of ICAC and the International Cotton Association (ICA). This year it involves about a thousand companies from 40 countries.