MUMBAI (Commoditiescontrol) - Thailand cotton imports in 2016-17 marketing year (MY), starts from August, is likely to rise 5.71 percent 17.28 lakh bales (170kg each) in anticipation of a sustained economic recovery and increased domestic demand for garments in the first half of the year, according to USDA attaché report.
Thailand cotton imports in 2015-16 has showed negative growth of 13.30 percent at 16.35 lakh bales compared with 18.86 lakh bales period a year ago. This reflected a reduction in cotton and cotton-blended yarn production which declined approximately 5 percent as spinning mills were forced to hold large inventories of yarn.
MY2016/17 imports of U.S. cotton are expected to increase to 5.76 lakh bales, up 6 percent from MY2015/16. Large-scale spinning mills which account for approximately 60 percent of total cotton yarn production still maintain their competitive edge in domestic and export markets as they have invested in new machinery and improved their production efficiency.
These mills are the main customers of U.S. cotton. Also, many small-scale spinning mills reportedly preferred U.S. cotton to cotton from other origins, particularly for mixed grade cotton due to its competitive prices and high-quality standards. However, competition from cheaper yarn imports from Vietnam and India will likely remain a challenge to domestic yarn producers, particularly for small-scale spinning mills.
Total domestic cotton consumption projected to rise 3.86 percent at 17.22 lakh bales against 16.58 lakh bales previous year.
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(By Commoditiescontrol Bureau; +91-22-40015533)
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