Global economic downturn, together with high prices resulting from lower production and weakened competitiveness against upland cotton, has dampened demand for extra-fine cotton. Driven by lower demand due to the global economic downturn and lower production, exports of extra-fine cotton in 2008-09 are expected to drop by 50% to 198,000 tons, the lowest level in more than a decade, says the International Cotton Advisory Committee. Production is estimated at 446,000 tons-down 40% from the more than 743,000 tons harvested in the last season. Export commitments by mid-February reached 101,000 tons or 51% of the projected exports. The United States and Egypt are the largest exporters of extra-fine cotton. In 2007-08, the US accounted for almost half of world exports and Egypt accounted for a third. The largest consumers and importers of extra-fine cotton are India, Pakistan and China.
展开▼
