By  on March 2, 2011

WASHINGTON — The International Cotton Advisory Committee on Tuesday projected that worldwide cotton production will increase 9 percent to 127 million bales in the 2011-2012 season, as farmers plant more in response to spiraling raw cotton prices and increased demand that has gripped the industry.

On the Cotlook A index, cotton prices, which have created havoc in the apparel and textile industries’ pricing structures all the way through to retail, are expected to hover around $1.61 a pound in this new season, after hitting a record high of $2.33 a pound on Feb. 18, the committee said.

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