US Cotton Exports Continue To Be Strong. When Will China'S Procurement Turning Point Come?

According to USDA statistics, as of February 13th, the United States has signed a total of 3 million 149 thousand tons of cotton for 2019/20 in the year of 90.5%, 1 million 466 thousand tons for shipment and 46.58% for shipping. As the new crown epidemic situation has improved and the first phase of Sino US economic and trade agreement has been gradually landing, the market is generally concerned about when China will begin to increase its procurement efforts to the US cotton market. In order to have a comprehensive and clear expression of the current situation of US cotton exports, we will collate the relevant data as follows.

First, the signing of the United States cotton.

Up to now, the main signatories of the US cotton are still mainly in Vietnam, China and Pakistan. Vietnam's recent signing of the US cotton contract is strong.

Two. Shipment of US cotton

2.7-2.13 a week, 2019/20 cotton shipments in the United States 87 thousand and 500 tons, less than last week's volume, but significantly increased compared with the same period in previous years. Up to now, the US cotton has shipped 1 million 466 thousand tons and the shipment rate is 46.58%.

Three. Signing shipment from US cotton to China

Up to now, China has signed a total of 459 thousand tons of US cotton imports, accounting for 14.59% of the US cotton contract volume, and accumulatively shipped 165 thousand tons of cotton, accounting for 11.28% of the total volume of US cotton total shipment, accounting for 36% of China's contracted volume.

Four, the signing of 2020/12

Up to now, the US cotton countries signed next year are mainly China, Mexico and Indonesia. The volume of US cotton in the next year has been significantly reduced compared with the same period in previous years.