ICAC says cotton prices may fall in second half of 2016/17 due to increased supply

摘要

The International Cotton Advisory Committee (ICAC) has forecast that the season-average Cotlook A Index in 2016/17 will range between 66 and 83 cents per lb, with a midpoint of 74 cents per lb, which would be 4 cents per lb higher than last season. The current season started with a large shrinkage in stocks, particularly from countries in the Southern Hemisphere, which saw ending stocks in 2015/16 fall by 21% to 1.6 million tons, the lowest since 2009/10. ICAC noted that the shortage in supply carried through the first few months of the 2016/17 season, as the bulk of the crop was still being harvested, keeping prices firm.