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Cotton and Textiles: World

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Cotton production in China, the world's top consumer of the fibre, dropped 2.2 percent in 2014 from the year before, the government said on Wednesday. The National Bureau of Statistics said output fell to 6.16 million tonnes as the amount of land used to grow cotton shrank by nearly 3 percent.

Informa Economics forecast 2015 upland cotton acres in the United States at 9.38 million acres and total plantings of the fibre at 9.6 million acres, both down sharply from the prior year, according to the firm's Friday report seen by Reuters. The total cotton estimate was up from the group's prior projections, but down 13.1 percent from 2014, the report said.
Cotton futures edged higher on Friday in choppy, thin trade, pinned between short covering and producer selling near the key level of 61 cents a lb. The most-active March cotton contract on ICE Futures US closed up 0.07 cent, or 0.1 percent, at 60.89 cents a lb after trading higher for much of the day.
US merchants face delays of as much as a week to ship cotton from major West Coast ports, threatening exports to China, the world's largest textile market, ahead of a key Chinese deadline at month's end for imports to arrive. Congestion has plagued West Coast ports for months, including Los Angeles and Long Beach, which are the two busiest container ports in the United States and together make up the top hub for US cotton exports.
Cotton futures advanced on Thursday in choppy dealings, supported by strength in grains and equities markets. The most active March cotton contract on ICE Futures US closed up 0.17 cent, or 0.3 percent, at 60.82 cents a lb after trading on either side of unchanged throughout the session.
The fluctuations observed during the day:

Cotton futures rose on Wednesday after an afternoon rally in crude oil and a strong signal from the Fed Reserve that it was on track to raise US interests rates, but again failed to break resistance at a key technical level. The most-active March contract on ICE Futures US rose 0.87 cent, or 1.5 percent, to settle at 60.65 cents a lb, rising sharply in the last half hour of dealing after trading below 60 cents a lb for most of the session.

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln