May 4, 2012 5:32 PM

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US-based ICAC: Global cotton trade expected to jump 13% this yr

The US-based International Cotton Advisory Committee (ICAC) said in a statement that global cotton trade is expected to jump 13 per cent to 8.6 million tonne this year due to record Chinese imports. The statement said China will account for 52 per cent of global imports this season . It further said imports by the rest of the world arelikely to fall by 18 per cent to 4.2 million tonne. It also noted that the surge in Chinese imports has reduced the amount of cotton available in the rest of the world this season. The report said the US cotton exports are dropping by 21 per cent to 2.5 million tonne due to reduced supplies, but shipments from India, Brazil and Australia could reach record levels this year.

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