Monday, the International Cotton Advisory Committee report ,2008-09 in the world cotton imports are expected to reduce by 12% to 7,300,000 tons, due to the economic crisis is expected to lead to a global decline in the amount of textile mills.

ICAC report, the 2009 world economic growth expected to slow down at the same time tension textiles credit, which will cut global consumption of cotton.

Among them, China mainly imports in 2008-09 is expected to reduce by 24% to 1,900,000 packages. China, the world’s cotton imports are expected to reduce the 7% to 5,400,000 tons.

ICAC report ,2008-09 World cotton production is expected to be reduced by 6% to 24,600,000 tons, because of competition higher crop prices, cotton acreage reduction. In addition ,2007-2008 many of the major growing countries to exchange rate fluctuations, to speed up the reduction in cotton acreage, the United States in cotton production in 2008-09 is expected to decline by 30% to 2,900,000 tons. In 2008-09 cotton production is expected to reduce the country there are Turkey and Brazil, India, Pakistan and Australia may raise output.

According to the ICAC 2007 price forecast model, the 2008/09 average Cotlook A Index as a whole in the price of 69 cents per pound. However, ,2008-2009 Cotlook A Index as a whole may be the actual average price in the range of 95% reliable between 62-69 cents lower half.