MUMBAI (Commoditiescontrol) - As per latest USDA attaché report China’s cotton imports for Marketing year 2019/20 is likely 2MMT from estimated 1.8MMT in 2018/19.Whereas production is likely to increase marginally 6.07MMT from 6 MMT.
Imports of U.S. cotton continue to be constrained by the additional 25 percent tariff that China implemented in July 2018.
In the first half of MY18/19 (August-January), U.S. cotton exports to China reached 119,000 tons, or 11.2 percent of China's total import volume of 1.07 MMT.
In contrast, the U.S. market share in the previous marketing year was 45 percent. Australia and Brazil increased their market shares during the first half of MY18/19, to 32 and 27 percent, respectively.
(By Commoditiescontrol Bureau)
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