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Showing posts from October, 2024

Explore how best to bolster cotton's impact and value.

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In recent years, the United Nations officially recognized October 7th as World Cotton Day ,  a day to spotlight the cotton sector and its reach across economies and livelihoods worldwide . This year's theme, "Cotton for Good", celebrates the myriad benefits associated with the fibre as well as the need to invest in sustaining cotton's future . Today, the focus is on Benin, where Better Cotton representatives will be among the 400 attendees convening in Cotonou to explore how best to bolster cotton's impact and value . Benin is especially significant as it recently became the latest country to have a Better Cotton Programme launched. Together with Mozambique, Egypt, Mali and Côte d'Ivoire, our programmes in Africa will play an instrumental role in transitioning toward a more sustainable cotton future across the continent . As we continue to build relationships in cotton-farming communities of all scales , we are taking a moment amid WCD 2024 to reflect on s...

U.S. Cotton Crop Forecast Reduced but Highest in 3 Years.

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Thee USDA’s first survey-based estimate of the 2024/25 U.S. cotton crop is 15.1 million bales. Although 11 percent below last month’s projection, the estimate is 25 percent above last season’s final estimate of 12.1 million bales. The 2024 cotton planted area estimate of nearly 11.2 million acres is based on all available data, including the latest certified acreage from the Farm Service Agency. This season’s cotton planted area is 9 percent above 2023/24, as cotton prices heading into planting season were more favorable relative to other crops. With improved moisture conditions compared with a year ago across much of Texas—the largest cotton-producing State—the early-season U.S. abandonment projection is reduced compared with last year. A U.S. abandonment rate of 23 percent projected for 2024/25 is below the year before and less than half the 47 percent record for 2022/23. U.S. cotton harvested acreage is forecast at 8.6 million acres, the highest in 3 years. The U.S. cotton y...

U.S. Cotton Demand and Stock Estimates Revised.

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  U.S. cotton demand (mill use plus exports) and stocks for 2024/25 and 2023/24 were adjusted in August based on the latest available data. U.S. exports for 2024/25 are forecast at 12.0 million bales, 1.0 million below the July projection but slightly above the previous year (figure 4). The lower forecast is attributable to the reduced crop estimate this month as well as decreased import prospects from China, a major destination for U.S. cotton. U.S. cotton mill use is projected at 1.9 million bales in 2024/25, unchanged from July but slightly above last year. The U.S. export estimate for 2023/24 was increased this month to 11.75 million bales, the lowest since the 2015/16 shipments of 9.2 million bales. Complete data for 2023/24 U.S. cotton exports will be available in September. Estimated U.S. cotton mill use remains at 1.85 million bales in 2023/24. The United States is expected to be the second largest cotton exporter to the world in 2024/25. Lower U.S. production, associated ...

U.S. Cotton Product Trade Slightly Lower in First Half of 2024.

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  Total U.S. cotton textile and apparel trade declined during the first half of 2024, compared with the corresponding 2023 period. U.S. cotton product imports totaled the equivalent of 7.2 million 480-pound bales of raw cotton during January–June 2024 compared with 7.4 million bales during the first 6 months of 2023, a 3-percent decline. Cotton product exports decreased 5 percent to approximately 1.2 million bale-equivalents. As a result, the cotton textile and apparel trade deficit fell about 2.5 percent during the first half of 2024, reaching 6.1 million bale equivalents. U.S. cotton product imports are sourced from many countries, although most products are imported from a handful of suppliers. During the first half of 2024, the top five countries contributed 68 percent of total U.S. cotton product imports , slightly above the corresponding period in 2023. Although the total share is similar, changes are notable for a couple of countries, indicating the vitality of each countr...

Global 2024/25 Cotton Production Forecast Higher.

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Global cotton production in 2024/25 is projected at 117.6 million bales, about 3.5 percent (4.1 million bales) above the previous year and 2 percent above the 5-year average (figure 6). For 2024/25, cotton production prospects for most of the major-producing countries are projected to increase. Year-over-year gains in the United States and Brazil were largely responsible for the global increase, offset slightly by declines in India and Pakistan. World 2024/25 cotton harvested area is forecast at 31.5 million hectares (77.8 million acres), less than 1 percent above the previous year. The 2024/25 global cotton yield is forecast at 813 kilograms (kg) per hectare (725 pounds per acre), 3 percent above the 3-year average and a record high. World cotton production is concentrated among a few countries, with the top four countries accounting for 71 percent of total expected production in 2024/25, the same as the previous season. China and India are expected to remain the leading cotton produ...

World 2024/25 Cotton Mill Use Projected To Rise Modestly.

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  Global cotton mill use in 2024/25 is projected at 116.2 million bales, nearly 3.5 percent above 2023/24’s revised estimate of 112.4 million bales and its highest in 4 years. Stable global economic growth expectations and lower cotton fiber prices compared with a year ago are projected to support increased world cotton mill use in 2024/25. Cotton mill use in China—the leading cotton spinner —is projected at 38.0 million bales in 2024/25, 500,000 bales (1 percent) above the previous year. China is forecast to account for 33 percent of global cotton mill use in 2024/25. Mill use in India is projected to increase 2 percent (500,000 bales) to 25.5 million bales as rising product exports support the mill use gain .  India is expected to account for 22 percent of the world mill use total in 2024/25. Pakistan’s 2024/25 cotton mill use is forecast at 9.6 million bales, 2 percent above the year before as larger supplies are available to local textile mills. Higher cotton mill use in...

Global Cotton Trade Lower; Ending Stocks To Increase.

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 World cotton trade in 2024/25 is forecast at 43.5 million bales, compared with 44.7 million bales in 2023/24. With global cotton mill use projected to expand in 2024/25, most major importing countries—excluding China—are expected to experience higher imports as well. Global cotton imports are forecast only slightly higher at 43.6 million bales in 2024/25, as China is projected to reduce its imports considerably this season. China, Bangladesh, and Vietnam are projected to be the largest importers in 2024/25, with imports of 10.0 million bales (-4.8 million bales), 7.8 million bales (+500,000 bales), and 7.1 million bales (+400,000 bales), respectively. Small export gains are seen for several countries but larger decreases elsewhere more than offset the gains. Larger exportable supplies in Brazil and the United States this season contribute to their small gains, while India’s lower crop projection limits its cotton export opportunities. Brazil and the United States are expected to a...

Historical Adjustments to China’s Cotton Supply and Demand Estimates Lead to Lower 2023/24 Beginning Stocks.

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Cotton estimates for China play a major role in the global supply and demand outlook . China is by far the single largest cotton spinning country —contributing one-third of global cotton mill use—and is the largest stockholder—accounting for nearly half of the world’s surplus stocks each year. China is also among the leading cotton producing and importing countrie s. China’s prominence in the global cotton market emphasizes the importance of USDA’s China cotton supply and demand projections , with back-year estimate adjustments sometimes deemed necessary after reexamining historical data or considering additional information. The August 2024 revisions to China’s supply and demand balance sheet for 2015/16–2022/23 are a reevaluation of previous production, use, and stocks data. During the 8-year period, China’s cotton area and production outside of Xinjiang declined due to subsidy policy changes and decreased faster than previously estimated. The non-Xinjiang revisions led to a cumula...

Use of cotton around the world.

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  Did you know? Around 80% of cotton is used in apparel 15 % in home furnishings 5% accounts for non-woven applications, such as filters or padding