China ELS Crop Could Triple
According to a Reuters report, China’s 2015/16 production of top quality extra-long staple cotton could be three times last year’s crop, pressuring prices and demand from other global exporters like the United States.
After China abandoned stockpiling and offered new subsidies connected to market prices, farmers began to plant significantly more ELS. Beijing’s subsidy for the fiber is 1.3 times the regular cotton subsidy. Early production estimates range from 130,000 up to 180,000 tons.