World production of man-made fibres rose to 68.0 mn tons in 2017, and the growth rate, at 3.7%, was slightly faster than the 3.6% increase achieved in the previous year. Not surprisingly, the rise in 2017 was sustained mostly by growth in China—the world's largest producer of man-made fibres—and to a lesser extent by growth in India. Synthetic fibres accounted for most of the increase in global man-made fibre production, and most of the increase in synthetic fibre production was due to growth in polyester fibre. But cellulosic fibre production was also up, by 2.6%.Production of natural fibres rose by 10.0% in 2017—following a 6.6% rise in 2016—as a result of a 10.6% increase in cotton fibre production. The increase in 2017 came after a 7.0%> hike in 2016, and the two increases reflected a switch by growers to cotton from alternative crops as a result of a recovery of the cotton price from a trough in 2015 to the mid-80s US cents/lb range in 2017. The wool clip also rose, but by only 0.3%. Nevertheless, as a result of the increase in cotton production, the share of natural fibres in total fibre production rose from 27.1%> to 28.3%.In the 2017/18 season (August 1, 2017-July 31, 2018), demand for cotton fibre is set to rise by 3.6%, according to the International Cotton Advisory Committee (ICAC). This rise will be stronger than in the previous season as global economic growth picks up and prices of substitute fibres increase, thereby making the price of cotton more competitive. However, production of cotton will rise by a faster 11.2%o, supply will exceed demand and stock levels will rise. But the rise in stocks will be small and therefore any downward pressure on prices will continue to be limited. According to the ICAC, the cotton price will average 83 US cents/lb in 2017/18—the same as in 2016/17. However, some slight upward pressure on the cotton price is likely thereafter, resulting in a slightly higher average for the 2018/19 season.
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