Record prices raise global cotton acreage

WASHINGTON, Mar 2 (Commodity Online): World cotton area is projected to rise by 7 per cent in 2011/12 to 36 million hectares, the largest in 17 years, in response to record prices in 2010/11, according to International Cotton Advisory Committee (ICAC). Farmers are expected to expand cotton area in 2011/12 in all producing countries, ICAC said. World cotton production is projected to increase by 9 per cent to a record exceeding 27 million tons. The largest increases in mill use are projected for India, China, Pakistan and Turkey.