Lower Cotton Prices May Affect Cotton Production Next Year.

Mr. Terry Townsend, executive director of the International Cotton Advisory Committee, said in November 15th that more and more cotton growers were encouraged by higher cotton prices this year.

The same reaction next year will lead to a reduction in cotton planting area.

Globally, cotton production will be higher than consumption this year.

Terry, an executive director of the International Cotton Advisory Committee, said the average price would be lower, but higher than the historical low.

ICAC predicts that from August, this year, the world's cotton

Cotton prices hit a record high of $2.19 / pound in March this year, down 55% to $0.9605 / pound.

Higher cotton prices last year encouraged India growers to expand their cotton planting area to 11 million 800 thousand hectares, up from 11 million 100 thousand hectares and 9 million 500 thousand hectares the year before.

Brazil's cotton planting area has increased by more than 60% this year.

India's cotton production has reached its peak, and ICAC expects India to drop in size.

But consumption will rise, and the gap between production and consumption will shrink.

ICAC focuses on cotton in the world

He said polyester consumption is more than cotton because polyester prices are cheaper than natural fibers.

Mr. Townsend said he had strong government intervention, such as banning cotton exports to India.

He said that cotton subsidies in the United States and some measures taken by China contain cotton.