US Cotton net export sales for May 19-25 up noticeably w/w at 267,800 RB

NEW DELHI, June 2 (Commoditiescontrol) : US cotton net sales were at 267,800 running bales (RB) for the week ended May 25 in the marketing year 2022/2023 starting August 1, up noticeably from the previous week and up 44 percent from the prior 4-week average.

US cotton net sales were at 131,200 RB for the week ended May 18.

Net sales were primarily for China (221,700 RB, including decreases of 2,400 RB), Turkey (20,800 RB), Vietnam (13,700 RB, including 2,100 RB switched from South Korea and 700 RB switched from Japan), Bangladesh (5,300 RB), and Indonesia (3,800 RB, including 900 RB switched from Japan), were offset by reductions primarily for South Korea (2,100 RB), El Salvador (1,200 RB), and Ecuador (700 RB).

Net sales of 76,600 RB for 2023/2024 were primarily for Turkey (43,500 RB), El Salvador (20,900 RB), and China (8,800 RB). Exports of 283,000 RB were up 5 percent from the previous week, but down 16 percent from the prior 4-week average.

The destinations were primarily to Turkey (56,200 RB), Pakistan (52,300 RB), Vietnam (48,700 RB), China (40,000 RB), and Bangladesh (23,300 RB).

Net sales of Pima totaling 3,700 RB for 2022/2023 were up 12 percent from the previous week, but down 70 percent from the prior 4-week average.

Increases primarily for Egypt (1,500 RB), Vietnam (1,500 RB, including 1,000 RB switched from Hong Kong), and India (1,300 RB), were offset by reductions for Hong Kong (1,000 RB).

Exports of 26,700 RB--a marketing-year high--were up 98 percent from the previous week and 52 percent from the prior 4-week average. The destinations were primarily to India (13,100 RB), China (7,400 RB), Vietnam (4,100 RB), Pakistan (900 RB), and Peru (400 RB).

Optional Origin Sales: For 2022/2023, the current outstanding balance of 1,100 RB, all Malaysia.

Export for Own Account: For 2022/2023, new exports for own account totaling 3,000 RB were to China.

Decreases of 2,900 RB were for China. The current exports for own account outstanding balance of 112,300 RB are for China (80,700 RB), Vietnam (21,500 RB), Pakistan (5,000 RB), South Korea (2,400 RB), India (1,500 RB), and Turkey (1,200 RB).

Export Adjustments: Accumulated exports of Pima cotton to China were adjusted down 3,004 RB for week ending May 11th. This shipment was reported in error.

(By Commoditiescontrol Bureau)