USDA September Monthly Report: Global Cotton Supply Increases And Consumption Decreases

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According to the global production and demand forecast released by the U.S. Department of agriculture in September, the U.S. cotton inventory at the beginning of 2022 / 23, output, export and final inventory will increase.

Among them, the initial inventory increased by 250000 bales, and the output increased by 1.3 million bales to 13.8 million bales. The output of most major cotton producing areas was increased, and the export volume of American cotton was increased by 600000 bales because of the increase in the proportion of American cotton available for export. The final inventory of the United States increased by 900000 bales to 2.7 million bales. The average price of upland cotton farms was 96 cents, down 1 cent on a month earlier.

In 2022 / 23, the global cotton production and final inventory increased, while the consumption decreased. Global cotton production increased by 1.4 million bales, and decreases in Pakistan, Uzbekistan and Togo were offset by increases in the United States, Australia, and Turkey. Global consumption decreased by 460000 bales month on month, mainly from Pakistan and Vietnam.

There was no change in global cotton exports, with increases in exports from the United States, Australia and Mexico offsetting decreases in exports from Brazil and Uzbekistan. On imports, Pakistan's imports increased by 200000 bales, offsetting the decrease in imports from Turkey and Vietnam. At the end of the period, the global cotton inventory increased by 84.8 million bales.