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Demand up for us cotton, beyond china, says usda

Demand up for us cotton, beyond china, says usda Source: ei.wtin.com
Date: 18-06-2013
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US cotton exports to China have eased over the past ten months, according to figures from the US Department of Agriculture (USDA), however shipments to other countries have jumped by more than 50%.
                   
The USDA said that these trends have happened for a variety of reasons. For instance, weaker competition due to tighter global supplies, especially from India, has caused import demand from large markets like Pakistan and Vietnam to shift to the US.
                   
Smaller crops in some other key producing countries, like Turkey and Pakistan, have supported demand for additional US supplies to meet growing consumption.
                   
In Southeast Asia, strong demand for US cotton has been triggered by rising Asian demand for textiles produced by Indonesia, Thailand, and Vietnam. Since domestic production supplies only about 5% of consumption, these countries are highly dependent on imports.
                   
In addition, tightening exportable supplies from Brazil and Australia have provided an opportunity to ship additional US cotton to Southeast Asian markets in the later months of the marketing year.
                   
According to the USDA, global production and consumption for 2013/14 are down. Trade has been lowered on reduced import demand from China. Also, lower US production and tightening stocks are expected to reduce exportable supplies and cause the US season average farm price to rise. But for 2012/13, US exports are up on continued strong sales and shipments.
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