The May 2023 edition of Cotton This Month:
A Deep Dive into the Indian Cotton Industry — Arrivals Are up!
- Determines whether last month's prediction that Indian farmers were delaying their deliveries was accurate
- Takes a comprehensive overview of India's cotton industry, from its history to the latest government initiatives supporting it
- Provides an update on the latest cotton developments in Uzbekistan
In last month's Cotton This Month (CTM), ICAC Data Scientist Matthew Looney reported that Indian cotton deliveries were far behind historical levels for that point of the season and suspected that farmers were withholding their cotton in the hope of better prices.
Whether they saw the recent, slight stabilisation of prices and decided to take advantage, or whether they simply couldn't hold the cotton any longer, it's impossible to know. But whatever the reason, the pace of arrivals in India has surged in the last month or so.
In recent years in India, there has been increasing awareness of the environmental and social impact of cotton production, and efforts are underway to promote sustainable and eco-friendly practices. It's part of the continuing evolution of one of the oldest cotton countries in the world, which is also highlighted in this edition of CTM.
The government in Uzbekistan is taking actions to support cotton as well, holding a national referendum on several issues, including continuing to root out forced labour in the fields. It's a clear sign that the country's leaders are aware of the need to address issues that plagued cotton in Uzbekistan in the past.
For the most up-to-date statistics, please refer to the ICAC Data Dashboard
. The dashboard is updated with new data constantly and that new information is immediately reflected in the Dashboard, making it a valuable, up-to-date resource all month long. Price Projections
The Secretariat’s current price forecast of the season-average A index for 2022/23 ranges from 96.1 cents to 111.3 cents, with a midpoint of 102.77 cents per pound. Cotton This Month is published at the beginning of the month with the Cotton Update published mid-month. The Cotton Update is a mid-month report with updated information on supply/demand estimates and prices. The next Cotton Update will be released on 15 May 2023. The next Cotton This Month will be released on 1 June 2023.
_________________________________________________About the International Cotton Advisory Committee (ICAC)
Formed in 1939, the ICAC is an association of cotton producing, consuming and trading countries. It acts as a catalyst for change by helping member countries maintain a healthy world cotton economy; provides transparency to the world cotton market by serving as a clearinghouse for technical information on cotton production; and serves as a forum for discussing cotton issues of international significance. In addition, members can take advantage of the ICAC’s global network of cotton researchers, whose expertise covers the supply chain from farm to textile manufacturing, and have free access to its cutting-edge technologies like the voice-based app and virtual technology cotton training programme. Committed to ensuring cotton’s continued sustainability, the ICAC is the only intergovernmental commodity body covering cotton that is recognised by the United Nations. For more information, please visit www.icac.org