World extra-fine cotton area rise in 2006/07

22 Mar '07

3 min read

U.S. Pima export commitments for 2006/07 rose by an estimated 23,000 tons during this period and reached 106,000 tons. The competitiveness payments by the U.S. government to U.S. exporters of Pima became available during the second half of December 2006 at a rate of 1.39 cents per pound and declined to 0.59 cents per pound during mid-January 2007.

As of end-January the payments declined to zero. The competitiveness payments program by the U.S. government to U.S. exporters of Pima continues in 2006/07, despite the termination of the upland Step 2 program. From the start of 2006/07 through mid-December 2006 the competitiveness payment rates were equal to zero because international prices remained high in relation to the basic Pima loan rate (82.45).

During 2005/06 the competitiveness payments fluctuated between zero and 14 cents per pound. Export commitments by Egypt for 2006/07 are estimated at 59,000 tons as of mid-February 2007 and include 10,000 tons of carryover sales from 2005/06 commitments. Between mid-January and mid-February 2007 sales of Egyptian cotton rose by 9,000 tons.

Bremen Cotton Exchange, Germany

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