|(United States Of America)|
The latest U.S. Department of Agriculture (USDA) projections indicate that world 2013/14 cotton consumption is forecast at 109.8 million bales, an increase of 2 percent (2.4 million bales) from a year ago. India and Pakistan are expected to consume 23.3 million bales and 11.7 million bales in 2013/14, up 3 percent and 6 percent, respectively, from the preceding year.
India’s 2012/13 mill use estimate was reduced by 250,000 bales from the previous month’s estimate, while Pakistan’s 2012/13 and 2013/14 mill use estimates were reduced 500,000 bales and 300,000 bales, respectively, from the previous month. India and Pakistan account for 60 percent of the expected increase in world 2013/14 cotton mill use.
China—the world’s top cotton consumer—is forecast to use 36.0 million bales in 2013/14, unchanged from the previous year. China’s national reserve procurement policy has raised prices to domestic mills, reducing spinners’ profit margins and forcing the industry to source more cotton yarn from other Asian countries such as India, Pakistan, and Vietnam.
In addition, the IMF’s July 2013 World Economic Outlook has revised China’s 2013 and 2014 economic growth downward to 7.8 percent and 7.7 percent, respectively, from the April 2013 forecast, a development that does not augur well for domestic demand for cotton in China. Figure 4 shows the recent consumption shares for the leading cotton-consuming countries.
World 2013/14 ending stocks are forecast at a record 94.3 million bales, up 10 percent from a year ago, as world cotton production outpaces consumption for the fourth consecutive year. China’s 2013/14 ending stocks are forecast at nearly 60.0 million bales, up 18 percent from a year ago and accounting for 63 percent of global ending stocks.
Australia and Brazil’s 2013/14 ending stocks are forecast at 2.7 million bales and 6.0 million bales, up 19 percent and 8 percent, respectively, from the previous year. Ending stocks in India and Pakistan are forecast at 8.4 million bales and 3.0 million bales in 2013/14, an increase of 8 percent and 6 percent, respectively, from the preceding year.
In the July WASDE, India’s 2013/14 ending stocks were increased by nearly 1.2 million bales from the previous month’s estimate. Ending stocks in the United States are forecast at 2.9 million bales in 2013/14, down 26 percent from the previous year. Despite the larger stocks overall, world stocks relative to consumption outside of the China reserve will continue to be tight, supporting market prices. USDA’s July projections assume continuation of the currently-announced China policies regulating the acquisition and release of cotton from the national reserve.
Middle East News
- Media Information: Autefa Solutions announces new agency for the Indian market
- Denimsandjeans India to discuss trend of unisex denim
- RBI keeps repo rate unchanged at 6%
- Maharashtra cabinet approves textile policy for 2018-23
- UAE has the lowest VAT regionally and globally
- Costs rise at sharpest pace for UAE’s private sector businesses
- Budget 2018-19: Customs duty on silk fabric hiked to 20%
- Reduction in tax for MSMEs to benefit TN textile firms
- Budget: TEA hails Rs 7148cr allocation for textile sector
- Indian textile industry hails budget with some scepticism
- Arvind Q3 revenue up 16% at Rs 2,706 crore
- Amazon infuses 1,950 cr fresh capital to India operations
- Indian brand Ekaya at Paris Haute Couture Week
- E-commerce platform for artisans in India's Kashmir
- SRTEPC honours RIL with 5 gold trophies
- Indian economy to grow at 7.3% in FY 2018-19: World Bank
- Wazir Advisors Introduction
- 10 Reasons to Invest in Textile Sector in India
- India’s Standing in Global Textile and Apparel Industry
- India: A Land of Opportunities
- Patterns, images and colors demanded in the Iranian carper markets
- CE certificate or sign on the carpet; Indicator of product quality or inaudible imprint of international clarification
- The classification of textile floorings In terms of fire-taking behavior according to the provisions of European Union
- Remain unknown the place of modern carpet design