Home / Agriculture / Trade tensions and higher stocks add uncertainty to global cotton market
The world cotton market faces continued uncertainty due to the escalating US-China trade war, with prices under additional pressure due to a projected increase in global stocks, the International Cotton Advisory Committee (ICAC) said in its latest monthly report.
It said there is some hope that American and Chinese representatives might be able to de-escalate the conflict later this month when they’re together at the G20 Summit in Osaka, Japan.
“However, the US government recently announced it will provide $16 billion in additional support to its farmers, potentially indicating plans for a prolonged standoff.”
According to the ICAC, prices have suffered from the escalating tariffs, dropping to a season-low of 76 cents per pound on May 14. Although global consumption is expected to rise by 1%, production is expected to jump 7%, with the resulting increase in global stocks exerting further downward pressure on prices.
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Home / Agriculture / Trade tensions and higher stocks add uncertainty to global cotton market
The world cotton market faces continued uncertainty due to the escalating US-China trade war, with prices under additional pressure due to a projected increase in global stocks, the International Cotton Advisory Committee (ICAC) said in its latest monthly report.
It said there is some hope that American and Chinese representatives might be able to de-escalate the conflict later this month when they’re together at the G20 Summit in Osaka, Japan.
“However, the US government recently announced it will provide $16 billion in additional s
upport to its farmers, potentially indicating plans for a prolonged standoff.”
According to the ICAC, prices have suffered from the escalating tariffs, dropping to a season-low of 76 cents per pound on May 14. Although global consumption is expected to rise by 1%, production is expected to jump 7%, with the resulting increase in global stocks exerting further downward pressure on prices.
Previous Previous post: Lower production, rising domestic consumption hit India’s coffee exports; global shipments up – ICO
Next Next post: Global growth to weaken to 2.6% in 2019, substantial risks seen; India seen rising to 7.5% – World Bank