US cotton exports jump 79% week-on-week: USDA

18 Apr '24

2 min read

US cotton exports jump 79% week-on-week: USDA

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Net US export sales of Upland cotton for the 2023-24 crop season reached 146,100 RB, marking a 79 per cent increase from previous week and 64 per cent above the 4-week average, as estimated by the US Department of Agriculture for the week ending April 11, 2024.
This surge in cotton sales could signal a positive shift in the declining ICE cotton price trend.

Net US export sales of Upland totalled 146,100 running bales, each weighing 226.8 kg or 500 pounds, for the crop season 2023-24. This represented a 79 per cent increase from the previous week's sales and was 64 per cent higher than the prior 4-week average. The US Department of Agriculture estimated these figures for the export sales during the week ending April 11, 2024. The increase in cotton sales may be a positive sign for the declining ICE cotton price trend. Last week, the USDA indicated a decrease in cotton sales from the country.

According to the weekly export sales report released today by the USDA, the increase in export sales was noted primarily for China (92,600 running bales (RB), including decreases of 3,500 RB), Pakistan (9,600 RB), Vietnam (9,000 RB, including 1,800 RB switched from China and 100 RB switched from South Korea), Bangladesh (5,500 RB), and El Salvador (3,900 RB). However, this was offset by reductions for Costa Rica (600 RB).

Net sales for new cotton for the next season 2024-25 were recorded at 80,100 RB, primarily for Honduras (45,100 RB), Peru (10,500 RB), Pakistan (6,600 RB), Bangladesh (6,600 RB), and Mexico (6,500 RB). The exports of 266,700 RB were down 3 per cent from the previous week and 24 per cent from the prior 4-week average. The main destinations were China (112,700 RB), Pakistan (46,700 RB), Vietnam (36,400 RB), Turkiye (27,100 RB), and Mexico (7,600 RB).

Net sales of Pima, totalling 2,700 RB for 2023-24, were down 66 per cent from the previous week and 57 per cent from the prior 4-week average. Increases reported for India (2,500 RB, including 500 RB switched from Italy), Brazil (400 RB), Bangladesh (200 RB), Thailand (100 RB), and Vietnam (100 RB), were offset by reductions for Italy (500 RB) and Japan (100 RB). Exports of 5,900 RB were down 63 per cent from the previous week and 12 per cent from the prior 4-week average. The primary destinations were India (3,100 RB), China (700 RB), Brazil (700 RB), Egypt (400 RB), and Italy (300 RB).

Fibre2Fashion News Desk (KUL)

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