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Our Bureau

Mumbai , Dec. 5

Output trailing consumption, declining stocks and falling export volumes continue to characterise the global cotton market for 2006-07, while price prospects for next year (2007-08) appear more upbeat on current reckoning.

China continues to be the main driver of the market - ranking first in production, consumption and imports; but a slowdown in China's purchases is seen leading to lower total exports, which is currently exerting a softening influence on prices.

This is already slowing down cotton exports from India. Trade now believes cotton shipments will not reach the initial projected volume of 45-50 lakh bales in 2006-07, but may fall considerably short of it.

This can potentially have an impact on domestic prices, especially over the coming weeks as arrivals begin to peak.

For 2007-08, world cotton output could trail consumption by as much as one million tonnes, as a result of which exports may rise and stocks may decline, according to the Washington-based International Cotton Advisory Committee (ICAC).

More Stories on : Cotton | Exports & Imports

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