MUMBAI (Commoditiescontrol) - U.S. Department of Agriculture’s (USDA) latest world cotton supply-demand estimates represents a 5 percent reduction in exports, which is raising projected 2015/16 U.S. cotton ending stocks this month.
World ending stocks are now revised upward to 104.08 million bales (480 lb each), up from 102.86 million bales estimated in January.
The upward estimate for ending stocks is the result of a reduction in global consumption by the department. It has lowered world cotton demand estimate to 109.6 million bales from 110.94 million bales.
World imports have been lowered to 35.08 million bales from 36 million bales, while exports projection has also been slashed to 35.11 million bales against 36.05 million bales.
However, global production has also been reduced marginally to 101.38 million bales from 101.56 million bales.
Production estimate in India is seen at 27.8 million bales now from 28 million bales. India’s domestic use is now forecast at 24.5 million bales from 25 million bales, while exports are seen at 5.7 million bales against 5.8 million bales.
Pakistan’s crop outlook is seen unchanged at 7.2 million, its lowest level since 1998, as falling gin arrivals indicate more extensive whitefly damage than previously expected.
Production estimate for China has kept unchanged at 23.8 million bales, while demand has been lowered to 32 million bales compared to 32.5 million bales with lowered imports of 5 million bales during the season.
(By Commoditiescontrol Bureau; +91-22-40015522)
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