US cotton exports for MY 2021-22 falls by estimated 1.7 mn bales


US cotton exports for marketing year (MY) 2021-22 are estimated to have fallen by more than 1.7 million bales from the previous MY to 14.7 million bales due to less exportable supplies, according to the US department of agriculture (USDA). Despite higher production, beginning stocks in August 2021 were more than 4 million bales lower than a year earlier.

Depressing export volumes were witnessed in the first half of the marketing year. Higher domestic consumption and logistical constraints also constrained shipments.

US cotton exports for marketing year (MY) 2021-22 are estimated to have fallen by more than 1.7 million bales from the previous MY to 14.7 million bales due to less exportable supplies, according to the US department of agriculture (USDA). Despite higher production, beginning stocks in August 2021 were more than 4 million bales lower than a year earlier.

According to USDA export sales reporting (ESR), total MY 2021-22 shipments were 14 million bales, 700,000 bales lower compared with the USDA forecast.

For the second consecutive year, China was the largest export market and accounted for roughly one-third of US shipments, according to ESR data. Most exports to China were intended for state reserves.

Of the top ten export markets in 2021-22, Turkey, India and Peru witnessed higher exports relative to the previous year.

US cotton exports for MY 2022-23 are forecast to fall by more than 2.5 million bales because of significantly less exportable supplies compared with the previous year.

Production in MY 2022-23 is forecast to fall roughly 5 million bales to 12.6 million because of drought, particularly in Texas, which normally accounts for more than one-half of US plantings.

Global production is lowered 3.1 million bales with the decline attributed to the United States. Global use and ending stocks are down 800,000 and 1.5 million bales respectively.

Global trade is down 1.8 million bales led by a 2-million-bale reduction in US exports to 12 million, and China imports lowered 1 million bales to 9 million.

Imports were also lowered for Bangladesh, India, Pakistan, Turkey and Vietnam. The US balance sheet shows significantly lower production, exports and ending stocks.

Production is lowered nearly 3 million bales and due to historically high abandonment in the US Southwest; ending stocks are forecast at their lowest level in nearly 100 years to 1.8 million bales.

Global cotton production is lowered over 262,000 bales from last month due to a decline in Brazil. Global use is down 575,000 bales, and ending stocks are up over 685,000 bales.

Global cotton trade is down with a 342,000- bale-drop in imports and 642,000-bale drop in exports. Notable decreases in imports are observed in Bangladesh, China and Pakistan; exports are down in Australia, Brazil, India and the United States.

Fibre2Fashion News Desk (DS)



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