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USDA Weekly Export Sales Report: Cotton Exports Soar 70% as Upland Demand Strengthens, While Pima Sales See Limited Gains

24 Oct 2024 6:24 pm
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MUMBAI, 24 Oct (Commoditiescontrol): The USDA weekly export sales report for the week ended October 17th, reveals a steady increase in upland cotton trade, alongside more mixed results for Pima cotton. Net sales of upland cotton for the 2024/2025 marketing year amounted to 169,700 running bales (RB), representing a 6% increase from the previous week and a 57% rise over the prior four-week average. This improvement points to strengthening global demand, driven by notable increases in orders from key markets such as Vietnam, Pakistan, and China. Meanwhile, exports of upland cotton surged by 70% compared to the previous week, reflecting higher international shipments to several large importers.

The top buyers of upland cotton during the reporting week included Vietnam, which purchased 34,200 RB, and Pakistan, acquiring 33,800 RB. China also added 27,500 RB to its purchases, although this figure included reductions of 4,800 RB. Similarly, Turkey bought 25,800 RB, with 9,000 RB of this amount switched from China, further highlighting dynamic trade patterns. Honduras purchased 10,400 RB, contributing to the week’s gains. However, sales were offset slightly by reductions from Switzerland (2,200 RB).

On the export side, upland cotton shipments increased to 98,400 RB, 70% higher than the previous week and 16% above the four-week average. The largest destinations for these exports were Pakistan, which received 27,500 RB, followed by Bangladesh (13,600 RB), India (13,000 RB), Vietnam (11,000 RB), and Mexico (8,700 RB). This sharp rise in exports signals growing interest from major textile-producing countries, reflecting solid international demand for U.S. upland cotton.

In contrast, Pima cotton showed more modest performance. Net sales for 2024/2025 rose to 4,400 RB, a 71% increase compared to the previous week, though still 45% below the prior four-week average. The largest Pima buyers were China with 2,200 RB, followed by Peru (1,100 RB), Vietnam (900 RB), Thailand (400 RB), and Nicaragua (100 RB). A slight reduction in sales to India (300 RB) was also reported. Despite the improvement in sales, Pima cotton exports declined sharply to just 4,200 RB, 66% lower than the previous week and 48% below the four-week average. India received the bulk of Pima shipments, totaling 2,900 RB, followed by Pakistan and Thailand with 600 RB each, and Guatemala with 100 RB.

The USDA report also provided updates on optional origin sales and exports for own account. Optional origin sales, which allow the flexibility to source cotton from other origins, showed an outstanding balance of 8,800 RB, all destined for Pakistan. Additionally, exports for own account, where cotton remains under U.S. control until final delivery, stood at 8,400 RB, all allocated to China. These figures highlight the importance of these two markets in the ongoing U.S. cotton trade.

In summary, the USDA report paints a mixed picture of the cotton trade. Upland cotton sales increased by 6% from the previous week, with exports jumping by 70%, indicating growing demand from major buyers like Pakistan and Vietnam. However, the performance of Pima cotton was more subdued, with sales showing some improvement but exports declining significantly. The contrasting trends between upland and Pima cotton suggest a complex market environment, with strong demand in certain regions offset by weaker activity elsewhere. As global textile producers continue to source raw materials, the U.S. cotton market will need to navigate shifting demand dynamics across both product categories.

(By Commoditiescontrol Bureau; +91 98201 30172)


       
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