Economic Observation: Recent Adjustment Of Global Cotton Supply And Demand Data

In the April supply and demand report of the US Department of Agriculture, the adjustment of global supply and demand was not significant. In 24/25, global production was basically flat, global consumption decreased by 114000 tons, global import and export decreased slightly, and global ending inventory increased by 115000 tons.

At present, the major producing countries in the northern hemisphere, China and the United States, have just started planting in the new year. The planting area in the United States is expected to decrease significantly, and the planting area in Xinjiang, China is expected to increase slightly and steadily. Follow up to pay attention to the weather and planting conditions in the northern hemisphere.

Recently Trump launched a tariff war on the world, and then the United States decided to delay the implementation of reciprocal tariffs. However, China and the United States are still in a state of "tension", which has a huge negative impact on the trade between China and the United States, which has also become a major factor affecting the global market.

In 24/25, the global cotton output decreased by 15000 tons, of which China's output increased by 54000 tons to 6.967 million tons, while other major producing countries did not make adjustments. At present, China and the United States in the northern hemisphere have started cotton planting in the new year, and 24/25 annual supply data has also been basically landed. The focus of the market has gradually shifted to the new year.

In 24/25, global consumption decreased by 114000 tons month on month, of which Chinese consumption decreased by 109000 tons. Recently, Sino US trade frictions have intensified, and China's textile and clothing exports to the United States have temporarily stagnated. There is a certain reason for the decline of Chinese consumption.

The global cotton import decreased by 71000 tons month on month in 24/25, of which the import of China decreased by 66000 tons to 1.415 million tons; Global exports dropped by 81000 tons, including 21000 tons for Brazil, 22000 tons for the United States, 22000 tons for Australia, and 43000 tons for Turkey.

The global 24/25 ending inventory increased by 115000 tons month on month, including 98000 tons in China, 22000 tons in the United States, 21000 tons in Australia and 22000 tons in Brazil. The report is generally empty, but the recent dominant market is still the global trade conflict. Continue to pay attention to the subsequent Sino US trade, and the planting and weather conditions in the northern hemisphere.