US-based International Cotton Advisory Committee (ICAC) foresees uncertain cotton prices in 2017-18 despite a projected production increase of 8 per cent worldwide and a rise in consumption by 2 per cent. World cotton trade is projected to decline by 1 per cent to 7.8 million tonnes. India is expected to be the largest producer with a 6 per cent output rise.
The ICAC, formed in 1939, is an association of members of cotton producing, consuming and trading countries.
The A Index (a proxy for