By admin       2018-03-26

However, the USDA added that it was the extent of China’s success in cutting its stockpile, which was behind its forecast for the slide in world stocks. “China’s reserve could fall to just about 20% of its peak of 53m bales by the end of 2018-19.” Inventories outside China, which in being available to the world market are more significant in pricing, were forecast growing next season by some 1.4m bales to a record high of 49.1m bales. The Cotlook A index, which on Thursday stood at 90.20 cents a pound, was forecast falling “due to projected higher stocks outside of China. “Increased supplies outside of China are expected to pressure cotton prices in 2018-19.”

Download App

# #

Member Login