The United States will continue its run as the world’s largest cotton exporter during 2016/17 with shipments up by 26 percent from the previous marketing year, said the International Cotton Advisory Committee. Higher yields and a 20 percent expansion in U.S. plantings will assure an abundant supply for shipment overseas.
U.S. production has swung like a pendulum annually between larger and smaller crops since 2009. Growers are forecast to harvest 16.14 million bales, or 3.5 million tonnes of cotton this year, and export 11.5 million bales, or 2.5 million tonnes this year, compared to a crop of 12.89 million bales in 2015 and exports of 9.15 million bales during 2015/16.
While U.S. exports are up, they are forecast to plunge by 35 percent for India, the No. 2 exporter globally, to 820,000 tonnes. Bangladesh, which displaced China as the world’s top importer in 2015/16, was forecast by ICAC to lead the world again with imports of 1.2 million tonnes, up 10 percent, to satisfy growing demand. Vietnam would again be the No. 2 importer, with purchases up by 15 percent, to 1.1 million tonnes.
China will be the third-largest importer and, despite the smallest plantings in 30 years, lead the world in cotton consumption, thanks to mammoth stockpiles, said ICAC, an intergovernmental body.