Consumption by cotton mills in the country is seen rising 2% in 2017-18 to 5.2 million tonne, due to competitive prices for cotton yarn products. Current season, mill demand has been pegged at 5.1 million tonne. Cotton consumption in China, the largest consumer of the fibre, is seen increasing by 1% to 7.7 million tonne in 2017-18. China accounts 30% of world cotton consumption. Consumption by cotton mills in Pakistan is expected to rise by 1% to 2.3 million tonne due to new incentives for textile exports offered by the government, while demand in Bangladesh is projected to increase by 5% to 1.5 million tonne in 2017-18. The committee has increased its forecast for 2017-18 global cotton output to 23.58 million tonne, from 23.12 million tonne projected in April, as higher returns encouraged farmers to expand the area under the cotton crop. Global cotton consumption is expected to rise to 24.55 million tonne, from 24.42 million tonne in the previous month. Year-ending stocks are expected at 16.41 million tonne, against forecast of 16.55 million tonne in April. July cotton futures contract on the Intercontinental Exchange is down 0.04% at 79.4 cents a pound, while the December contract was down 0.09% at 75 cents a pound.