Demand and tight stocks drive cotton prices high

摘要

World cotton production and consumption are forecast to roughly balance at 25.1 million tons in 2010-11, as a result of a 15% rebound in production and a 2% increase in mill use, according to the International Cotton Advisory Committee (ICAC). World ending stocks, ICAC says, are expected to remain at 9.1 million tons, while the ratio of ending stocks to mill use could decrease from 37% to 36%, the lowest since 1989-90. The tightening of stocks available for mill use has pushed cotton prices higher.