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Cotton exports likely to increase in 2007-2008

Mar '07
Week ending market report on cotton has shown some interesting figures for insiders.

As per the weekly prices (cents/lb), spot market price was 54.24 at the start of the week and settled at 49.39 on March 15, 2007, while mill delivery prices were 61.67 and 57.50.

In cotton exports, the report reveals that total sales of cotton bales (480-lb) during 2006-2007, were 86,88,400, while in the 2005-2006, it was 14,006,700. In terms of shipments, total number of cotton bales was 51, 19,800 during 2006-2007 and during 2005-2006, it was 83,07,900.

In the list of top 10 customers of US raw cotton, China leads the roll of importers. During 2006-2007, total number of bales exported to China was 17,31,000 and Mexico on the second position with 16,56,000 cotton bales.

The Council has also released estimates for cotton supply and demand for March 2007. According to this estimate, total supply will be 214.6 million bales of cotton for 2007-2008 and total mill consumption will be 125 million bales for the same period.

Exports are likely to touch the height of 45 million bales for 2007-2008.

Daily mill consumption in December 2006 was 15,37,000 bales and this increased to 18,74,000 in January 2007. In terms of annual mill consumption, December 2006 witnessed 4.73 million of bales consumed and in January 2007, consumption reached 4.88 million of bales.

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