Increasing demand for Synthetics affects Zimbabwean cotton prices

With the demand for synthetic fibres which includes nylon, acrylic and polyester continuing to increase in Zimbabwean market, cotton farmers are left with no choice but to brace for lower producer prices for the crop in the coming marketing season compared to the previous year.

Synthetic fibres are the result of extensive research by scientists to improve on naturally occurring animal and plant fibres. In general, synthetic fibres are created by extruding fibre forming materials through spinnerets into air and water, forming a thread.

Zimbabwe Farmers’ Union executive director Paul Zakariya said that the little cotton that will be produced this season was likely to be met with poor producer prices as the world cotton price continues to tumble.

Last year, the producer price for cotton in Zimbabwe was $0, 30.

China which is both a world renowned producer as well as consumer of cotton is turning more and more to the use of synthetic fibres, he said.

Noting the economic gains by way of that substitution, cotton prices will for the foreseeable future continue to slide.

Cotton consumption in China, the world’s largest consumer, has declined continuously since 2009 /10 when it reached just over 10 million tonnes. In 2015 /16, cotton consumption in China is forecast at 7,1 million tonnes, down 5 percent from last season. India’s cotton consumption is expected to decline by 2 percent to 5,3 million tonnes.

According to the International Cotton Advisory Council, the uptake of cotton by the world’s largest consumer, China would fall 5 percent. Moreover, low prices for polyester, the main competing fibre, has hurt world cotton consumption in 2015 /16.