COTTON COMPETITIVENESS IMPROVES IN A BOOMING TEXTILE MARKET

摘要

World cotton consumption increased in 2004 for the sixth consecutive year, reaching a record not imagined a decade ago. The world textile market, which cotton shares with all textile fibers —but most importantly with chemical fibers and wool- has also registered unprecedented growth. Contrary to the 1990s when only polyester fiber consumption expanded exceptionally, over the last six years, consumption of three of the main fibers (polyester, cotton, and rayon) in the world market has expanded. The market share of cotton continues to decline, although at a far less rapid pace than before. Prices have been an important factor behind increased cotton competitiveness, but other elements have also been at work, particularly research and promotion and changes in the rules of world trade. With increased competitiveness, the world cotton market will likely enjoy sustained rates of expansion in the future.