By admin       2018-09-05

The latest release from United States Department of Agriculture (USAD) forecasts Indias MY 2018/19 cotton production at 28.5 million 480 lb. bales on 11.8 million hectares. Planting is near completion and the recovery of monsoon rains has improved yield prospects. USDA currently forecasts the marketing year (MY) 2018/19 cotton area of 11.8 million hectares, 100,000 hectares lower than the official USDA estimate. According to the Ministry of Agriculture and Farmers Welfare (MOAFW), planted area reached 11.68 million hectares as of August 28, 2018 compared to 11.98 million hectares in MY 2017/18. USDA raised MY 2017/18 export estimate to 5.2 million 480 lb. bales (6.6 million 170 kg bales/1.13 mmt) as Indian cotton prices are relatively cheaper compared to the Cotlook A-Index. The Indian currency remains weak supporting strong shipments in the latter part of the marketing year. USDA MY 2018/19 cotton import forecast is 1.5 million 480 lb. bales (2.1 million 170 kg bales/370,000 mt). Post anticipates imports to remain strong as mills import for processing and re-export to cover yarn and fabric export commitments.

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