World cotton consumption to hit record in 2005-06
Reuters, Washington
An international farm group Friday forecast world cotton production would fall below 24 million tons in 2005/06, down 2.4 million tons, while consumption is seen reaching 23.8 million tons.The International Cotton Advisory Committee Secretariat said 2005/2006 would still be the second largest cotton crop on record. Consumption will be 550,000 tons more than in the current season. With China's imports projected to more than double during 2005/06, climbing to 2.8 million tons, world cotton trade is forecast to surpass 8 million tons for the first time, the ICAC added in its monthly outlook.
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