Analysis On Supply And Demand Situation Of Global Cotton Market: New Cotton Is Gradually Coming Into The Market

United States: New cotton harvest in Texas is promising. As the rainfall at the end of summer alleviated the drought of cotton fields, the cotton yield in the hills and plateaus of Texas in the United States this year was cautiously optimistic. The overall situation was better than expected, higher than the historical long-term average. The new cotton harvest began a few weeks ago. It is understood that in July this year, the Texas Plateau was hot and dry, Cotton farmer The output is not expected to be good, but now the situation has improved a lot. Last year, the problem of the grade of leaf cuttings was quite prominent, but in the new year, 4000 bales of cotton have been processed. The inspection results show that the grade of leaf cuttings is 2-3, and the purity of new cotton is very high. According to the field survey conducted by agricultural experts in Texas, due to timely rainfall, the unit yield of dry land may be about 25% higher than the normal level, especially in the hilly areas in the north, and rainfall also reduces irrigation input.

Australia: Cotton production soared in 2016/17. The Australian Cotton Company recently said that due to sufficient rainfall, the cotton planting area in Australia will continue to expand. In 2016/17, Australia's cotton output will nearly double year-on-year, reaching more than 880000 tons, with an output value of more than 2.2 billion dollars. At present, the water level of reservoirs in various cotton producing regions in Australia has risen in an all-round way, and cotton prices are also quite good, so there is great hope for expanding planting next year. The only uncertain factor is that many cotton farmers in dryland fields have given up completely due to long-term water shortage, so the planting area of dryland fields is the largest variable.

Pakistan: cotton Unit yield increased. According to the latest report of the American Agricultural Counsellor, Pakistan's cotton output in 2016/17 was 1.796 million tons, an increase of 54000 tons compared with the last forecast, an increase of 18% year on year. After July, cotton prices stabilized and rose, and cotton farmers increased efforts to control insect pests. The unit yield of cotton is expected to reach 38.5 kg/mu, a year-on-year increase of 36%.

Uzbekistan: The cotton conference will sign a large export order again. On October 12-13, the annual Uzbek cotton and textile conference was held in Tashkent, the capital of Uzbekistan. People from more than 40 countries and regions participated in the conference. The highlights of this meeting are the official launch of Uzbekistan Holding Company and the signing of cotton export contracts. This year, 550000 tons of cotton export contracts and 1.322 billion dollars of textile export contracts were signed on the scene of the conference, and the global cotton textile trade has again achieved great success.

West Africa: cotton production rebounded. according to Ivory Coast Cotton Mills Association It is predicted that in 2015/16, affected by adverse weather, the output of seed cotton in Ivory Coast will decrease from 450000 tons to 310000 tons. In 2016/17, the output of seed cotton in Ivory Coast is expected to reach 360000 tons, with a year-on-year growth of 16%. The Ivory Coast government aims to increase the output of seed cotton to 600000 tons by 2020.

India: Stop exporting cotton to Pakistan. In 2015/16, India's cotton export to Pakistan reached 782 million US dollars, but the grand occasion of this year is no longer likely. As India's MFN treatment to Pakistan may end, Indian cotton exporters will move to other regions. Indian sources said that in 2016/17, Pakistan still had a supply gap of 340000 tons and needed to purchase from India, but now the relationship between the two countries is deteriorating, and it is difficult for Indian cotton to continue to be exported to Pakistan in large quantities. Pakistan will be forced to import American cotton with high prices. An Indian cotton exporter said that India's cotton export market is very large, and has decided to stop exporting to Pakistan, hoping to break all relations between the two countries. Moreover, Indian cotton merchants have decided not to participate in the ICAC plenary meeting held in Pakistan from October 30 to November 4 this year.