Login ID:
Password:
Partner Login
Contact Us : 7066511911

USDA Revises Up 2019-20 Global Cotton Production Estimate To 125.79 Million Bales

11 Jul 2019 9:52 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

NEW DELHI (Commoditiescontrol) - In its latest July report, the US Department of Agriculture (USDA) has scaled up its forecast for global cotton production in 2019/20 to 125.79 million bales (1 US bale = 218kg), compared to 125.32 million bales projected in June.

Changes to this month’s 2019/20 world cotton supply and demand estimates are primarily driven by higher beginning stocks (up 1.7 million bales) and lower consumption (down 1.0 million bales), resulting in higher ending stocks (up 3.2 million bales).

Higher beginning stocks stem largely from reduced 2018/19 consumption estimates for Bangladesh and China.

Similarly, 2019/20 world consumption is projected lower as reductions for Bangladesh and China more than offset mill-use gains for India, Turkmenistan, and Vietnam. World production is nearly 500,000 bales higher this month in both 2018/19 and 2019/20, largely due to increases in India’s crop.

The US 2019/20 cotton projections show higher beginning and ending stocks compared with last month. Beginning stocks are 350,000 bales higher due to decreases in 2018/19 domestic consumption and exports.

A reported slowdown in domestic spinning results in a 100,000-bale decline in consumption, and exports are reduced 250,000 bales based on the pace of recent shipments.

Ending stocks in 2018/19 are raised 300,000 bales to 6.7 million, or 33 percent of use. The forecast for the marketing-year average price received by producers is reduced 1 cent to 63 cents per pound, a 4-year low.

USDA-2019-20 (July) vs 2018-19 (In Million 480-Pound Bales)

WORLD (In Million 480-Pound Bales)

Opening Stock-79.27/80.97
Production-125.79/119.32
Import-44.12/41.41
Consumption-124.27/121.07
Export-44.15/41.05
Ending Stock-80.42/79.27

INDIA (In Million 480-Pound Bales)

Opening Stock-8.43/9.23
Production-29/26.50
Import-1.40/1.50
Consumption-25.50/25
Export-4.40/3.80
Ending Stock-8.93/8.43

US (In Million 480-Pound Bales)

Opening Stock-5/4.30
Production-22/18.37
Import-0.01/0.01
Consumption-3.10/3
Export-17/14.50
Ending Stock-6.70/5

CHINA (In Million 480-Pound Bales)

Opening Stock-35.37/38.02
Production-27.75/27.75
Import-10.50/9.25
Consumption-40.50/39.50
Ending Stock-32.99/35.37

BRAZIL (In Million 480-Pound Bales)

Opening Stock-11.81/8.66
Production-12/12.80
Consumption-3.60/3.50
Export-8/6.20
Ending Stock-12.28/11.81

PAKISTAN (In Million 480-Pound Bales)

Opening Stock-2.73/2.83
Production-8/7.70
Import-3/2.90
Consumption-10.70/10.60
Export-0.15/0.08
Ending Stock-2.86/2.73

BANGLADESH (In Million 480-Pound Bales)

Opening Stock-1.78/1.86
Production-0.14/0.14
Import-7.30/6.90
Consumption-7.40/7.10
Ending Stock-1.81/1.78

VIETNAM (In Million 480-Pound Bales)

Opening Stock-1.14/1.24
Import-7.80/7
Consumption-7.60/7.10
Ending Stock-1.34/1.14

AUSTRALIA (In Million 480-Pound Bales)

Opening Stock-1.80/3.04
Production-1.90/2.40
Export-1.80/3.60
Ending Stock-1.87/1.80

(By Commoditiescontrol Bureau)

       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Special Reports
USDA Revises Down 2019-20 Global Cotton Production Esti...
Cotton Complex Kapas (NCDEX) Trading Within a Multi...
Weekly: ICE Cotton Marks 2nd Weekly Gain on China Tarif...
Weekly: ICE Cotton Manages Positive Closing Amid Strong...
Weekly: ICE Cotton Ends Lower Amid Doubts Over US-China...
more
Top 5 News
USD/INR (Dec. 19) Retesting Major Support Near 71.00...
USDA Revises Down 2019-20 Global Cotton Production Esti...
USD/INR (Dec. 19) May Decline Towards Support at 71....
USD/ARS & USD/BRL
USD/CNY & USD/IDR
Top 5 Market Commentary
Domestic/Imported Variety Urad Declines At Major market...
Chana/Chana Dal Remains Weak At Major Spot Markets
New Moong Slips At Selective Markets Of Karnataka/Rajas...
Tur Continues To Trade Weak At Major Markets
Jeera
Copyright © CC Commodity Info Services LLP. All rights reserved.