By admin       2018-03-26

26.02.2018 - Cotton prices will drop by some 12% next season, despite a surge in Chinese imports, and the prospect of 20% of the crop planted in the drought-hit US southern Plains being lost, US officials said. The US Department of Agriculture, unveiling its first full estimates for world cotton supply and demand in 2018-19, forecast that the Cotlook A index of physical prices will “decline about 10 cents to 73 cents a pound” on a year-average basis. The forecast came despite a forecast that world cotton stocks will fall by 5.9m bales to a seven-year low of 82.7m bales over the season. Meanwhile, Chinese imports, another dynamic closely watched by traders, may soar 40% to a four-year high of 7.0m bales as the country’s drive to erode its huge state inventories, built by a now-scrapped guaranteed pricing scheme, bears fruit

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