FOR IMMEDIATE RELEASE
3 December 2023
Mumbai — The 2nd Open Session of the 81st Plenary Meeting is one of the most anticipated and information-packed sessions of the entire event: the ICAC Secretariat Reports. These presentations draw on the deep expertise of ICAC staff to cover many of the most important drivers of the global cotton economy.
The first speaker was Head of Textiles Mr Kanwar Usman, whose presentation was on ‘Forecasting Global Textiles Demand and Supply: Trends and Insights'. He analysed global GDP trends, key economic developments, the international textiles trade, and gave a detailed readout of major textile product trade, offering a comprehensive snapshot of the current and future textiles landscape.
The second report, entitled ‘Global Economics of Cotton Production’, was delivered by Chief Scientist Dr Keshav Kranthi. He discussed cotton’s economic contribution that includes employment for 23.9 million farmers, 2.63 billion man-days of work, and 125 million people throughout the value chain. He also covered critical sustainability issues including pesticide usage, water consumption, fertiliser applications, and cotton’s environmental impact compared to other fibres.
The third speaker was Commodity Trade Analyst Ms Parkhi Vats, who discussed the World Cotton Market Outlook. She provided a recap of the 2022/23 season, trends on production and consumption, global yields and price trends, and the influence of prices on plantings. Ms Vats also spoke about World Cotton Trade and Specialty Cotton, providing data on the slowing cotton lint trade, identifying the world’s cotton lint exporters, the world’s top long staple and extra long staple producers and consumers, and total cotton production under identity programmes.
Economist Ms Lorena Ruiz closed the session with a presentation on Production and Trade Subsidies Affecting the Cotton Industry. An unbiased analysis of government support provided to cotton farmers globally, her data was drawn primarily from government agencies, and supplemented by open-source information.
The session Chair was Mr Lalit K Gupta, Chairman-cum-Managing Director, Cotton Corporation of India, and the co-Chair was Mr Sourabh Kulkarni, Director, Office of the Textile Commissioner.
The 81st Plenary Meeting of the International Cotton Advisory Committee (ICAC) has the theme, 'Cotton Value Chain: Local Innovations for Global Prosperity'. Scheduled for 2-5 December at the Jio World Convention Centre in Mumbai, the conference will be followed by a Technical Tour of India's cotton and textile industries from 6-8 December. For more information and to see the full agenda, please click here.
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, Twitter or LinkedIn.