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ICAC: Record High Price Led to Record High Cotton Output

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Global plantation area of cotton in 2011/12 will rise by 7percent from the precedent year reaching 36 million hectares, which hit the record high level in the recent 17 years, according to a recent report released by ICAC (International Cotton Advisory Committee). This is perceived as a direct consequence to the record high price of last year.

The plantation area increment will fulfill the market demand in 2011/12. It is forecast that the price of cotton could to a certain extent fall from the plateau, but the price could still be 60 US cents higher per pound than the average price of the last 10 years nonetheless. High cotton price and competition from chemical fiber industry will restrain the growth of cotton. Global cotton consumption in 2011/12 will rise by 3 percent, reaching 25.4 million tons. India, China, Pakistan and Turkey will be witnessing pronounced growth.

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