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US cotton exports forecast to grow 53% in 2016-17

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US Department of Agriculture (USDA) has predicted that country may note growth in its cotton exports in 2016-17. With an increase of 53 per cent, US cotton export predicted to reach 14.0 million bales in the said period. In addition to this, US’ share of world trade is also expected to note 13 per cent growth from current 26 per cent to 39 per cent. It would be highest growth rate in 6 years, the April 2017 report on cotton

“With global trade expected to rise by less than 4 per cent and with stable import forecasts for major US markets, US market share will have to expand significantly in many countries for the forecast to be obtained,” states the report ‘Cotton: World Markets and Trade’ released by Foreign Agricultural Service of the USDA.

The reported added that for 2016-17, global cotton use is up marginally, and production has increased, which is resulting in (global) end stocks going up slightly. Global trade is also up marginally, while US exports have increased by 800,000 bales. The US’ season-average farm price forecast is lowered a half-cent to 68 cents per pound.

 

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