ICAC revises its price forecast to 86.45 cents
Highlights from the January edition of Cotton This Month regarding the 2018/19 season:
- The midpoint for the 2018/19 price forecast is 86.45 cents/lb, down from last month’s forecast of 89 cents
- The price forecast has a range from 75.60 cents to 100.21 cents
- The projection reflects a 95% confidence interval
- The forecast is based various assumptions, including global consumption, ending stocks, and world trade
The forecast, which has a price range from a low of 75.60 cents to a high of 100.21 cents, is based on the following assumptions:
- World cotton consumption will be 26.7 million tonnes.
- World cotton ending stocks will be 18.2 million tonnes.
- World trade will be 9.4 million tonnes.
- China’s cotton consumption will be 8.45 million tonnes.
- Ending stocks in China will be 7.66 million tonnes, and
- China’s cotton imports will total 1.6 million tonnes.