Xinjiang, China’s leading cotton producer, plans to cut down its cotton acreage to 1.53 million hectares this year and control the output at around 2.7 million tons, aiming at speeding up its agricultural restructuring. The International Cotton Advisory Committee recently said world cotton mill use was predicated to decline by 7% in 2008/2009 season, to 24.5 million tons, as a result of the ongoing global financial crisis, in particular, mill use in China was forecasted to decline by 10% to 9.8 million tons during the same period, and the country’s trade volume of cotton was predicated to drop by 1 million tons to 1.5 million tons.

Source: China Textile Leader