Interviews
Cotton planting expected to increase about 45% in MY 2011
02 Jun '11
4 min read
Even though Turkish textile and garment exports still show 20 and 10 percent increases respectively, sources indicate that these increases are due to delivery of old orders and export growth soon will stop. It is also reported that some mills who ordered new machinery to increase capacity are trying to postpone their purchases.
Mills are hoping for improvement in the overall economic situation in domestic and international markets and also the stabilization of world cotton prices with the new crop, to be able to work competitively again.
Trade
Turkey imported 512,310 MT (2.4 Million bales) of cotton during first eight months of MY 2010, of which 372,000 MT (1.7 Million bales) or seventy-one percent was U.S. cotton. Greece, the CIS countries, Brazil and India were the other suppliers to Turkey. Total year end imports are expected to remain at about 700,000 MT due to a decline in domestic consumption. GSM-102 credit guarantee program continues to play an important role in U.S. cotton sales to Turkey. During FY 2011 Turkish cotton importers bought US$ 235 million worth of U.S. cotton under the program, which represents about fifty-seven percent of total usage as of May 25, 2011.
Turkish cotton exports during the same period were about 5,880 MT (27,000 bales), of which about 5,357 MT (24,590 bales) went to Turkish free trade zones. Some of the cotton in these zones may be imported back into the country. Turkey also exported about 16,130 MT of cotton for medical use during the same period.
Mills are hoping for improvement in the overall economic situation in domestic and international markets and also the stabilization of world cotton prices with the new crop, to be able to work competitively again.
Trade
Turkey imported 512,310 MT (2.4 Million bales) of cotton during first eight months of MY 2010, of which 372,000 MT (1.7 Million bales) or seventy-one percent was U.S. cotton. Greece, the CIS countries, Brazil and India were the other suppliers to Turkey. Total year end imports are expected to remain at about 700,000 MT due to a decline in domestic consumption. GSM-102 credit guarantee program continues to play an important role in U.S. cotton sales to Turkey. During FY 2011 Turkish cotton importers bought US$ 235 million worth of U.S. cotton under the program, which represents about fifty-seven percent of total usage as of May 25, 2011.
Turkish cotton exports during the same period were about 5,880 MT (27,000 bales), of which about 5,357 MT (24,590 bales) went to Turkish free trade zones. Some of the cotton in these zones may be imported back into the country. Turkey also exported about 16,130 MT of cotton for medical use during the same period.
USDA's Foreign Agricultural Service (FAS)
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