ICAC points to conservative perspective with 0.43% drop in global cotton consumption in 2023/24

The advance of the harvest in plantations in the Northern Hemisphere contributes to an increase in the supply available on the market. In the United States, 77% of production has already been harvested by 11/19, with emphasis on the Delta, whose performance is ahead of the historical average, and Texas, where weather conditions favor harvesting. In China, the Xinjiang region exceeded 60% of the harvest, while seed cotton productivity in the other provinces, excluding Xinjiang, remains the same or slightly higher than the previous year, except in Gansu, which shows a 20% drop in compared to the same period last year. Of the six largest cotton producers, four face significant challenges due to adverse weather conditions, resulting in a projected drop in productivity for the 2023/24 harvest. As for global demand, the United States Department of Agriculture (USDA) maintains its expectation of growth compared to the previous harvest, although there was a slightly negative revision in ...