MUMBAI(Commoditiescontrol)- USDA released its monthly World Agricultural Supply Demand Estimate (WASDE) for cotton season 2016-17 (August-July) on January 12. The report has upped world production by 1.1 per cent from its previous month's estimate while domestic use has been revised a tad down. With total demand just around the same, closing stock is estimated to rise 1.7 per cent.
Thus, the main factor driving the 19.19 lakh bale (170 kg each) increase in ending stock is the higher production of 14.07 lakh bales at 1347 lakh bales.
The incremental production is attributed to increases for the United States and China, where inspection data indicates higher production than previously anticipated for Xinjiang region and is partially offset by a decrease for Pakistan, which is based on ginning arrivals.
Meanwhile, consumption is reduced for India, Mexico, and Turkey, offset by an increase for China.
World trade is raised slightly, due to higher projected imports by Pakistan and Bangladesh. Higher exports are projected for the United States and India, partially offset by decreases for Uzbekistan and Australia.
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(By Commoditiescontrol Bureau; +91-22-40115534)
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