In spite of US cotton production falling 5 million bales from the prior year, the country’s exports are forecast at 15.25 million bales for the ongoing marketing season 2020-21 that commenced in August. In the 5 months to December, China has accounted for almost 50 % of US cotton exports, with the country’s complete imports forecast at 10.5 million bales.
… Read More China’s cotton import this season is expected to achieve the best stage in 7 several years. Moreover, China’s consumption is expected to recuperate 5.5 million bales from the prior year and achieve 38.5 million bales, accounting for more than 1-third of entire world use in 2020-21, the Overseas Agricultural Assistance of the US section of agriculture (USDA) explained in its January 2021 report on ‘Cotton: Globe Markets and Trade’.
The demand from customers for US cotton in China has been primarily led by the Condition Reserve and Condition-owned Enterprises (SOEs),