Market Analysis: The Contract Of Upland Cotton Dropped Sharply This Week

According to the USDA report, on May 24-30, 2024, the contracted volume of American upland cotton exports in 2023/24 will be 31485 tons, 38% lower than the previous week, and 34% lower than the average level of the previous four weeks. The main buyers are China (16276 tons, including 250 tons from Hong Kong, China, 23 tons from Singapore), Pakistan (6401 tons), Vietnam (5698 tons, including 91 tons from South Korea) El Salvador (840 tons), Bangladesh (772 tons), Hong Kong, China (250 tons), Taiwan, China (250 tons), South Korea (91 tons), Singapore (23 tons) cancelled the contract.

In 2023/24, the export shipment volume of American upland cotton in 2023/24 was 35639 tons, down 9% from the previous week and 27% from the average level of the previous four weeks, mainly to China (12757 tons), Mexico (3496 tons), Turkey (3314 tons), Pakistan (3269 tons) and Vietnam (2384 tons).

In 2024/25, the contracted export volume of American upland cotton was 12281 tons, and the main buyers were Mexico (6515 tons), Vietnam (4790 tons), South Korea (749 tons), Pakistan (499 tons), and China (499 tons). Turkey (999 tons) and Honduras (45 tons) cancelled the contract.

From May 24-30, 2024, the contracted export volume of American Pima cotton in 2023/24 will be 454 tons, down 63% from the previous week and 68% from the average level of the previous four weeks. The main buyers are Pakistan (204 tons), Bangladesh (91 tons), Peru (91 tons), India (45 tons, including 272 tons cancelled) and Vietnam (23 tons).

In 2023/24, the export shipment volume of American Pima cotton will be 1839 tons, an increase of 29% over the previous week, and a decrease of 2% over the average level of the previous four weeks, mainly to India (613 tons), Ethiopia (386 tons), Pakistan (227 tons), Vietnam (204 tons), and Brazil (91 tons).