(Ecofin Agency) - During the 2018-19 cotton season, the price of cotton will hit a new record, standing at the highest level in almost 5 years. This was announced by the International Cotton Advisory Committee (ICAC).

According to information published by Agrimoney, the Cotlook index A, which measures the fiber prices, could be around 84 cents per pound, a strong performance ever achieved since the 2013/2014 season.

This surge is attributable to the reduction by 220,000 tons of the global stock of cotton to stand at 17.9 million tons in the next season.

However, the production is expected to increase by 320, 000 tons to reach 25.3 million tons during the  2018/2019, despite the expected reduction of Indian planted areas due to parasite damage.

According to ICAC, demand will still be strong in 2018/2019, up by over 1.1 million tons. 

Espoir Olodo