Sunday, May 26, 2024
spot_img
HomeTechnologyTextile Raw MaterialUS cotton export to china is on boom

US cotton export to china is on boom

us-cotton-baleDespite a decrease in production of 5 Mb compared with the preceding year, US cotton shipments have  posted stronger US export forecasts of 15.25 million bales (Mb). China accounted for nearly half of US exports in the first five months, according to the latest USDA report, with its overall import estimate at 10.5 MB Bales, the maximum for seven years.

In addition, Chinese demand is estimated to rebound by 5.5Mb and hit 38.5Mb in the past year, which account for more than one-third of global usage in 2020-21. China’s demand for US cotton has largely been driven by the SOEs, which accounted for more than 3/4 the overall import of US cotton by 2020/21.

Despite US prices being higher compared to Brazil and India (second and-third-largest exporters forecast in 2020-21), US sales and shipments to China through December exceeded previous year by more than 2.3Mb. Australia, another significant supplier to China, witnessed exportable supplies decimated by a 2020 drought. Like the US, Australia is a significant supplier of high-quality cotton to the world’s largest importer.

US exports are boosted this month and forecast to be mostly unchanged from the previous year due to a historic pace for shipments and resilient China demand, despite fewer shipments and sales to Vietnam and Bangladesh.

YOU MAY ALSO LIKE
- Exhibition - spot_img
- Industry Associate - spot_img

Upcoming Events

Simillar News

Recent Random

The Centre host Panel discussion and launched Child rights action hub 

The Centre for Child Rights and Business officially launched Action Hub and a dialogues program on ‘Child labor risks in the lower tiers of...

High Fashion Reduces Order Confirmation Time by 50%, Improves Planning Efficiency by 10%, and Boosts Production Efficiency by 5-10% with Coats Digital’s FastReactPlan

Chinese Fashion Powerhouse, High Fashion, Reduces Order Confirmation Time by 50%, Improves Planning Efficiency by 10% and Boosts Production Efficiency by 5-10% with Coats...

WTO-MC13 outcome and implication for Bangladesh

AKM Asaduzzaman Patwary, Executive Secretary, DCCI             WTO members gather biennially to make some decisions on multilateral trade issues for a smooth global trading system....