World fibre demand rose by 4.5% in 2013 after growing by 5.3% in 2012. The rise in 2013 reflected the continued global economic recovery, and was due mainly to a 6.0% increase in the demand for man-made fibres. Natural fibre demand was also up, by 1:1%, after falling by 1.6% in the previous year. But with demand for man-made fibres growing faster than demand for natural fibres, the share of natural fibres fell for the fifth consecutive year, to 29.9%. The increase in demand for man-made fibres stemmed from growth in both synthetic fibres and cellulosic fibres—although growth in cellulosic fibres was stronger. The main source of the rise in natural fibre demand was a 1.3% increase in cotton consumption. Wool demand fell by 3.9% while demand for silk was up by 4.6%. The price of cotton averaged 91 US cents/lb in the 2013/14 crop year (August 1, 2012-July 31, 2013), according to the International Cotton Advisory Committee (ICAC), which was 3.4% higher than the 88 US cents/lb recorded for the previous year. However, since July 2014 there has been some weakness in the cotton price and by early December it had fallen back to 66 US centsAb. Furthermore, there is little prospect of any strengthening in 2014/15 as concerns remain over the global stock position. Admittedly, demand is expected to rise by 4.2% in 2014/15 following a 0.5% fall in 2013/14 while output is expected to increase marginally. But supply will continue to exceed demand and stocks are likely to rise significantly. This and the relative price of man-made fibres will therefore place a ceiling on any significant price increases.
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