For the year 2016-17 the US exports of cotton are forecast at about 14.0 million bales which is about 53% more than the previous session. The statement is given by the US department of agriculture (USDA). On the whole, the US share of world trade is expected to reach at about 39%, which is an up from 26 per cent last season, which would be the highest level in 6 years, the April 2017 report on cotton said.
According to the official reports published by the World Markets and Trade’ released by Foreign Agricultural Service of the USDA, “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.”
At the same time the share of US in Chinese imports has also rebounded remarkably from 11 per cent last year (the lowest in over 2 decades) to 35%. “For 2016-17, global cotton use is raised only marginally, and production is raised, resulting in global ending stocks up slightly. Global trade is up marginally, while US exports are raised by 800,000 bales, reducing US ending stocks.
