On September 10, 2021, USDA released the global cotton supply and demand forecast monthly report. In 2021 / 22, the global cotton ending inventory decreased by 117700 tons, mainly because the global consumption increased by 305200 tons in this year and the previous year, exceeding the increase of 163500 tons in 2021 / 22. The increase in consumption in the past two years is mainly in Pakistan, Bangladesh, Brazil and several smaller countries. Turkey’s consumption increased by 21800 tons in 2021 / 22, while Vietnam’s consumption decreased by the same amount due to the recent epidemic. Global production increased as the increase in production in the United States, Australia and Argentina exceeded the decline in production in India, Greece and several countries in the West African Franc region. In 2021 / 22, the global trade volume is expected to be lower than the record of 10.573 million tons in the previous year, but increased by 109000 tons to 10.024 million tons compared with August.
About US cotton data: the forecast of US cotton supply and demand in 2021 / 22 shows that the opening inventory is slightly lower than that of the previous month, but the significant increase in output means that the export volume and ending inventory are higher than those expected in the previous month. The output is expected to be 4.03 million tons. Although the harvest area decreased by 4%, the total output increased by 261600 tons due to the expected increase in unit yield in Texas. With the increase of Global trade volume and US cotton supply this month, US cotton export increased by 109000 tons and ending inventory increased by 152600 tons. The average annual price of upland cotton rose 4 cents to 84 cents per pound from the previous month.
Source: USDA
Post time: Sep-17-2021