“With global trade expected to rise by less than 4 per cent and with stable import forecasts for major US markets, US market share will have to expand significantly in many countries for the forecast to be obtained,” states the report ‘Cotton: World Markets and Trade’ released by Foreign Agricultural Service of the USDA.
Market share of US cotton is expanding in nearly all markets, with an exceptional increase in Taiwan. The US share of China’s imports has rebounded remarkably from 11 per cent last year (the lowest in over 2 decades) to 35 per cent, which is in line with the historical average.
“For 2016-17, global cotton use is raised only marginally, and production is raised, resulting in global ending stocks up slightly. Global trade is up marginally, while US exports are raised by 800,000 bales, reducing US ending stocks. The US season-average farm price forecast is lowered a half-cent to 68 cents/pound,” the report said. (RKS)
Fibre2Fashion News Desk – India
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