Pakistan's cotton consumption is forecast to grow by three per cent to 2.6 million tonnes in 2014/15. Comparatively, the consumption grew nine per cent to 2.4 million tonnes in 2012/13. World’s cotton consumption is predicted to go up by three per cent to 24.2 million tonnes in 2014/15.
China’s consumption fell by four percent in 2012/13 to 8.3 million tonnes and is expected to fall by one percent in 2014/15 to 7.8 million tonnes. The volume of cotton traded internationally is expected to decline by eight per cent to 8.1 million tonnes in 2014/15. This was due to reduced shipments to China to an anticipated 2.1 million tonnes in that fiscal year. The exports to the country were registered at a record 5.3 million tonnes in 2011/12.
According to the statement, the increased volume of trade had benefited a number of exporting countries and farmers, though it didn’t reflect the improved demand for cotton. Bangladesh, Indonesia, and Vietnam also experienced similar growth in 2012/13 in consumption and should continue growing in 2014/15, though at a slower rate.