Global cotton market sees increased global production, with major producers like the US and Brazil projected to increase stocks, while China and Indonesia are major exporters and importers respectively.
Here’s a more detailed look:
Global Production: Global cotton production is projected to increase to 120.5 million bales, the highest since 2017/18, with a 6.6% increase.
Major Producers: The United States, Brazil, China, India, and Pakistan are key cotton producers.
Major Exporters and Importers: China, Bangladesh and Indonesia are the largest exporters and importers of cotton, respectively.
Stock Increases: All five major cotton-producing countries are projected to increase their stocks in 2024/25, with the US and Brazil leading the way.
Cotton Prices: Current cotton prices are at 0.71+0.01+1.43%, with previous close at 0.70, open at 0.69, day low at 0.72, and day high at 0.71.
Cotton Price per lb: The current price is 1.34 USD per lb.
52 week low and high: The 52 week low is 1.07 and the 52 week high is 0.71.
Net sales of U.S. cotton: Net sales of U.S. cotton on the week totaled 135,200 bales.
ICE cotton: ICE cotton slips further amid technical selling ahead of USDA report.
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