NEW DELHI, Sept 12 (Commoditiescontrol) - In its latest September report, the US Department of Agriculture (USDA) has scaled up its forecast for global cotton production in 2022-23 to 118.45 million bales (1 US bale= 218kg), compared to 117.01 million bales projected in August 2022.
The 2022/23 world cotton projections include higher production and ending stocks relative to
last month, and lower consumption.
World production is projected 1.4 million bales higher as more production in the United States, Australia, China, and Turkey offset decreases for Pakistan, Uzbekistan, and Togo. World consumption is 460,000 bales lower, with reductions in Pakistan and Vietnam.
World trade is unchanged as higher U.S., Australia, and Mexico exports offset lower expected shipments from Brazil and Uzbekistan. On the import side, a 200,000-bale increase in Pakistan’s expected imports offsets reduced expectations for Turkey and Vietnam.
World ending stocks are 2.0 million bales higher this month, at 84.8 million bales.
The 2022/23 U.S. cotton projections include higher beginning stocks, production, exports, and ending stocks this month.
Beginning stocks are increased 250,000 bales, largely reflecting 2021/22 reported ending stocks data from the Agricultural Marketing Service and the NASS Cotton System Consumption and Stocks report. Production is 1.3 million bales higher at 13.8 million, with higher production expected in most major producing states.
Exports are projected 600,000 bales higher this month as the U.S. share of exportable supplies rises, and ending stocks are 900,000 bales higher at 2.7 million bales.
The season-average price for upland cotton is forecast at 96 cents per pound, 1 cent lower than in August.
USDA-2022-23 (Sept 2022) vs 2021-22 (In Million 480-Pound Bales)
WORLD
Opening Stock-84.79/88.45
Production-118.45/115.71
Import-44.61/42.77
Consumption-118.63/119.46
Export-44.58/43.07
Ending Stock-84.75/84.79
INDIA
Opening Stock-8.64/11.94
Production-27.50/24.50
Import-1.50/1
Consumption-25/25
Export-3.70/3.80
Ending Stock-8.94/8.64
US
Opening Stock-3.75/3.15
Production-13.83/17.52
Import 0.01/0.01
Consumption-2.30/2.55
Export-12.60/14.62
Ending Stock-2.70/3.75
CHINA
Opening Stock-36.97/39.25
Production-28/27
Import-9/7.84
Consumption-37.50/37
Ending Stock-36.42/36.97
BRAZIL
Opening Stock-11.72/11.12
Production-13/11.50
Consumption-3.20/3.20
Export-8.60/7.73
Ending Stock-12.93/11.72
PAKISTAN
Opening Stock-1.79/2.27
Production-5.50/6
Import-5/4.30
Consumption-10.50/10.70
Export-0.03/0.05
Ending Stock-1.74/1.79
BANGLADESH
Opening Stock-2.29/2.45
Production-0.16/0.15
Import-8.40/8.20
Consumption-8.50/8.50
Ending Stock-2.34/2.29
VIETNAM
Opening Stock-1.02/1.09
Import-6.90/6.63
Consumption-6.80/6.70
Ending Stock-1.13/1.02
AUSTRALIA
Opening Stock-4.55/2.52
Production-6/5.75
Export-6.40/3.90
Ending Stock-4.33/4.55
(By Commoditiescontrol Bureau)
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