PRESS ROOM
Potential tailwind for cotton prices
Friday 16th April '21
According to the US Department of Agriculture (USDA), the global cotton market is expected to be tighter than before owing to more robust demand and lower beginning stocks. Global ending stocks are set to decline 93.5mn bales in 2020/21 which is 1mn bales lower than the prior estimate. USDA has downwardly revised its forecast for US cotton stocks at the end of the current crop year to 3.9mn bales, which marks its lowest level in four years owing to an upward revision of exports. This should help lend a tailwind to cotton prices.