Thailand's Imports Of US Cotton Will Have A Downward Trend.
In 2007/08, because of the strong demand of Thailand's domestic textile factories and the continued decline in the US dollar exchange rate against the Thai baht, Thailand's cotton imports reached 419 thousand and 800 tons, unchanged from the previous forecast of the US Department of agriculture (USDA). Among them, US cotton imports amounted to 181 thousand and 600 tons, an increase of 57.1% over the previous year, accounting for 43.3% of Thailand's cotton imports. In 2007/08, the import of Thailand to other varieties decreased by 20.4% in addition to American cotton.
As we all know, the price of American cotton is generally higher than that of other varieties, but in the past two years, the US dollar continued to fall, creating conditions for us cotton exports. From 2007 to the first few months of 2008, the price of the United States cotton was basically in line with the prices of other varieties under the impetus of the strong exchange rate between the Thai baht and the US dollar, which increased Thailand's demand for us cotton imports. However, as the US dollar rebounded sharply, Thailand's imports of US cotton will drop to its previous level.
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