login_img.jpg
Login ID:
Password:
Partner Login
Contact Us : 7066511911

USDA revises 2024-25 global cotton ending stocks estimate upwards to 83.49 million bales

12 Jun 2024 11:21 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

NEW DELHI, June 12 (Commoditiescontrol) - In its latest June 2024 report, the US Department of Agriculture (USDA) has revised upwards its forecast for global ending stocks in 2024-25 at 83.49 million bales (1 US bale= 218kg), compared to 83.01 million bales projected in May 2024.

In the global 2024/25 cotton balance sheet, beginning stocks, production and consumption are increased, with world trade unchanged. As a result, world ending stocks are projected 480,000 bales higher than in May at 83.5 million.

The forecast for production is raised 90,000 bales based solely on higher area and yield in Burma. Consumption is 80,000 bales higher with increases in Vietnam and Burma offsetting reductions elsewhere. Revisions to the 2023/24 world balance sheet include higher beginning stocks and production, with reduced trade and consumption, raising ending stocks approximately 500,000 bales.

The 2024/25 U.S. cotton projections show higher beginning and ending stocks compared to last month. Projected production, domestic use and exports are unchanged.

The 2024/25 season average upland farm price is down 4 cents from the May forecast to 70 cents per pound following a decline in new-crop cotton futures.

Ending stocks are 400,000 bales higher at 4.1 million, or 28 percent of use. Revisions to the 2023/24 U.S. cotton balance sheet include a 500,000-bale reduction in exports to 11.8 million based on the slowing pace of export shipments, a 50,000-bale increase in domestic use, and a 450,000-bale gain in ending stocks.

USDA- 2024-25 (June 2024) vs 2023-24 (In Million 480-Pound Bales)

WORLD (In Million 480-Pound Bales)
Opening Stock- 80.97/80.67
Production-119.14/113.78
Import- 44.95/43.52
Consumption-116.94/113.07
Export- 44.95/44.28
Ending Stock- 83.49/80.97

INDIA (In Million 480-Pound Bales)
Opening Stock-11.47/11.32
Production-25/26.20
Import-1.50/0.95
Consumption-25.20/24.80
Export-1.90/2.20
Ending Stock-10.87/11.47

US (In Million 480-Pound Bales)
Opening Stock-2.85/4.25
Production-16/12.07
Import 0.01/0.01
Consumption-1.90/1.85
Export-13/11.80
Ending Stock-4.10/2.85

CHINA (In Million 480-Pound Bales)
Opening Stock- 41.01/37.28
Production- 27/27.50
Import- 12/14.80
Consumption- 39/38.50
Ending Stock- 40.93/41.01

BRAZIL (In Million 480-Pound Bales)
Opening Stock- 3.09/4.01
Production- 16.70/14.57
Consumption- 3.30/3.10
Export- 12.50/12.40
Ending Stock- 4/3.09

PAKISTAN (In Million 480-Pound Bales)
Opening Stock-1.63/1.53
Production-6.50/6.70
Import- 3.70/2.70
Consumption-9.80/9.20
Export-0.05/0.10
Ending Stock-1.98/1.63

BANGLADESH (In Million 480-Pound Bales)
Opening Stock-1.59/1.73
Production-0.16/0.16
Import-8/7.40
Consumption-8/7.70
Ending Stock-1.74/1.59

VIETNAM (In Million 480-Pound Bales)
Opening Stock-1.05/1.05
Import-7.10/6.90
Consumption-7.10/6.90
Ending Stock-1.05/1.05

AUSTRALIA (In Million 480-Pound Bales)
Opening Stock-4.15/4.78
Production-5/5
Export-5.40/5.80
Ending Stock- 3.91/4.15

(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 :  
   

Post Comment  

Latest Special Reports
USDA Forecasts Global Cotton Production Surge, Expects ...
Weekly: Cotton Extend Loss For 7th Week; Bears Tighten ...
USDA revises 2024-25 global cotton ending stocks estima...
Textile Industry Pins Hopes on Upcoming Union Budget
US cotton net sales for June 28-July 4 at 54,100 RB, do...
more
Top 5 News
USDA Forecasts Global Cotton Production Surge, Expects ...
Argentina's Currency Market Intervention: Will It Reviv...
Weekly: Sugar Prices Decline Amid Strong Brazilian Outp...
Weekly: Cotton Extend Loss For 7th Week; Bears Tighten ...
USDA lowers 2024-25 global soybean production estimates...
Top 5 Market Commentary
ZCE Cotton And Yarn Evening Closing - 17 Jul 2024
DCE Oil Complex Evening Closing - 17 Jul 2024
Mentha Oil Prices Extend Gains for Second Straight Day
Guar Seed & Gum Prices Steady; Futures Trade Suspended ...
Tur Prices Experienced Mixed Trend on Dull Trading Day
Copyright © CC Commodity Info Services LLP. All rights reserved.