Global Cotton Roundup – June 24
June 24, 2014 Here’s a look at some of the top stories impacting the global cotton market this week.
USDA Projects Two Percent Increase in Global Cotton Mill Use
According to recent USDA projections, global 2014/15 cotton mill use for 2014/15 is forecast at 112.3 million bales, two percent above the previous season. Mill use in China is also expected to climb to 37.0 million bales – its highest total in three years.
Cotton Planting Begins Slowly This Season in India
Cotton planting is underway throughout India, but is running behind normal schedule due to the delayed monsoon season.
Mozambique Looks for Earlier Cotton Marketing Season
Mozambique is looking to begin its cotton marketing season earlier than its usual date of July 30 to take advantage of better international prices and provide higher revenues to its farmers. The country hopes to harvest 110,000 tons of raw cotton, about 25,000 tons more than last year.
Tanzanian Farmers and Organizations Set Minimum Cotton Price
According to an East African Business Week report, Tanzanian cotton farmers and affiliated industry organizations have agreed on a minimum price of US $0.446/kg of cotton for the new marketing season that began on June 18.
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