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Global cotton production will be lowered

  • Author:Peter
  • Source:www.31knit.com
  • Release on :2015-11-26
The current Northern Hemisphere harvest index, based on the estimated 2015/16 world cotton production, consumption and ending stocks will be reduced.
According to the global supply and demand forecasting monthly US Department of Agriculture (USDA) shows that global cotton production will be reduced by 1.75 million package to 1.0563 million bales, a decrease from India, Pakistan, China, Greece, Mali and Mexico and other countries.
Mainly due to reduced consumption in China and Pakistan, currently estimated quarter of the total global consumption of only moderate growth of 1.1%.
Global ending stocks are projected to 1.0609 million bales, down from about 6 million more than the level of the beginning of the package, but also 1.0697 million bales lower than the earlier forecast of the US Department of Agriculture.
Estimated US production by 5.7 million bales, reducing from now (2015) in October of 1,334 million bales to 1,328 million bales, despite the increase in production in the southwest, but most are reduced to offset the southeast and the yield River Delta region.
At the same time, ending stocks, US domestic mill use and exports are unchanged. Estimated average unit price of 55-63 cents per pound, up and down both ends of the unit price decline in October was unchanged at 59 cents intermediate unit price.
However, industry experts have said that despite the estimated 2015/16 world cotton production will be significantly reduced, while consumption is projected to rise, the possibility of existing stock holdings in terms of the shortage of cotton unlikely.