USDA weekly report: US cotton export sales down

Net cotton export sales of Upland this week totalled 81,500 RB (running bales of 226.8 kg or 500 pound) for season 2023-24, which were 4 per cent down from the previous week and 10 per cent from the prior 4-week average. Although, decline in US cotton exports remained restricted in the week (29 March- 04 April), continued slowdown in export sale is a negative factor for the market.

According to weekly export sales report released on Thursday by USDA, the exports increased primarily for China (50,200 RB, including decreases of 11,000 RB), Pakistan (23,900 RB, including decreases of 2,600 RB), Peru (7,800 RB), Vietnam (5,200 RB, including 1,500 RB switched from Japan and decreases of 4,400 RB), and Nicaragua (2,700 RB). The higher exports were offset by reductions for Turkiye (13,900 RB), Indonesia (2,500 RB), and South Korea (400 RB).

US Upland cotton export sales declined slightly, with China and Pakistan leading purchases.
Reductions to Turkiye affected overall figures.
Meanwhile, Pima cotton sales surged, with India and China as top destinations.
The market faces headwinds from a sustained slowdown in export sales, underlining the volatility in global cotton trade dynamics.

The net sales of 35,700 RB were reported for next season 2024-25, with Turkiye (24,400 RB), Vietnam (4,400 RB), Indonesia (4,400 RB), Honduras (2,100 RB), and Peru (400 RB). Exports of 274,100 RB were down 25 per cent from the previous week and 23 per cent from the prior 4-week average. The destinations were primarily to China (120,700 RB), Turkiye (39,300 RB), Vietnam (34,700 RB), Pakistan (25,700 RB), and Mexico (11,900 RB).

Net sales of Pima cotton totalling 8,000 RB for 2023-24 were up noticeably from the previous week and up 34 per cent from the prior 4-week average. Increases reported for Pakistan (3,400 RB), China (2,400 RB), and India (2,400 RB, including decreases of 300 RB), were offset by reductions for Bangladesh (200 RB). Exports of 15,900 RB were up noticeably from the previous week and from the prior 4-week average. The destinations were primarily to India (6,000 RB), China (5,200 RB), Peru (1,300 RB), Pakistan (1,100 RB), and Costa Rica (900 RB).

Fibre2Fashion News Desk (KUL)