The International Cotton Advisory Committee (ICAC) met in Interlaken, Switzerland during October 7-11, 2012 for its 71st Plenary Meeting since the establishment of the Committee in 1939. Participation was nearly 400 including, representatives from 46 governments and 14 international organizations participated in the meeting.
Approximately two-thirds of all participants were from the private sectors of their countries and one-third represented governments or international organizations.
The theme of the Plenary Meeting, “Shaping sustainability in the cotton value chain” provided an opportunity to take a closer look at the cotton value chain using a sustainability framework.
Cotton’s Position in the World Market: Planning for the Future: The Secretariat reported that world cotton production is expected to decrease by 6% to 26 million metric tons in 2012/13, while mill use is expected to rise by 3% to 23 million tons.
After rising to a record in March 2011, cotton prices have declined significantly. Cotton consumption is forecast to remain below production during 2012/13, causing stocks to rise.
International trade in cotton is expected to fall to 8 million tons during the current season. The Secretariat reported that current prices for cotton, combined with rising prices for food crops, will likely reduce global cotton area in 2013/14.
