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 Cotton International Report

 In Recent weeks International prices have increased with China expected to Import significant amount from all over the world .  ICAC has cut its production estimate for China by 1.378 Million bales to 28.80 Million bales.

Because of an increase in import prices there will be less demand for Import to India. The new crop which is good also make it cheaper to buy in local then to import. The prices in India should fall in Dec/Jan, the import duty will also be not reduced. So, mostly long & extra long staple will be imported only by Export Oriented Units (EOUS) who require specialized quality, which are not available in India.

          We have to wait and watch the market and see if the International Prices continues to rise  or starts comes down again.  Due to elections round the corner, the Govt.  in India may not take any measures to reduce the prices, as they do not want to displease the producers. If the International Cotton Prices goes up then the Consumption of manmade fibres may increase. We also have to see the position in China which has become a major player in the International Textiles Market.

          New York cotton (December) was quoted at 75.31 cents, which is the highest price in the last five years. The International prices are expected to remain buoyant because China is expected to import huge quantities of cotton this season.  Cotton production globally this season will remain below the consumption level, which has resulted in firm price trend. Cotton yarn export prices are also improving but not in proportion to the international Cotton prices.

This year the high price benefit is going to go to the producers as the prices have increased in the beginning of the season only & so in the next year, the sowing should be higher. 

US Spot December reached a new record high of 82.95 US cents, China's import buying may become relatively slow as the domestic crop moves to market. A comparatively steady demand will persist, with quality remaining a large consideration. China’s January through September cotton import were 644303 tons, a huge increase of 577% compared to same period a year before.

The Cotlook A Index exploded in October 2003, rising by 13 cents to 80 cents per

pound, the highest since September 1997.  During the first three months of 2003/04, prices rose by 18 cents and averaged 66 cents per pound. The sharp increase in world cotton prices during October 2003 was caused by an abrupt reduction in the production estimate of China (Mainland), resulting in a large increase in projected net imports by China (Mainland) in 2003/04 stated I.C.A.C. in its report.

Cotton production in China (Mainland) is now estimated at 5 million tons, 400,000 tons less than projected at the start of October.  Adverse weather in China (Mainland) caused yields to decline to an estimated 1,000 kilograms of lint per hectare in 2003/04, or 15% less than in 2002/03. The reduced estimate of cotton production in China (Mainland) was mostly offset by increased estimates of production in Brazil, other countries in South America and West Africa.  World cotton production in 2003/04 is still projected to reach 20.1 million tons, or 800,000 tons more than in 2002/03.

However, world cotton consumption in 2003/04 is being affected by rising cotton prices, and the estimate for 2003/04 was reduced by 400,000 tons during October 2003 to 20.8 million tons, unchanged from 2002/03.


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