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In 2016/17, global cotton imports are expected to remain basically unchanged from the previous year. U.S. exports are expected to increase by more than 35%, and the share of U.S. cotton in the global cotton trade will also increase substantially. U.S. cotton exports data show that U.S. cotton exports increased by two-thirds year-on-year in the first five months of the year (August-December 2016) due to a sharp increase in exports to China, Indonesia, Vietnam and other countries. Since the beginning of this year, the U.S. cotton exports to most regions have remained strong, except for Turkey. Although the forecast for China's cotton imports this year only slightly increased from a year earlier, the U.S. cotton exports to China almost five times this year were almost the same period of last year. At the same time, US cotton exports to Vietnam almost doubled while Vietnam's cotton imports this year are expected to increase by only 10%. Similarly, US cotton exports to Indonesia more than doubled, while Indonesia's cotton imports this year did not show any year-on-year changes. Due to the surge in cotton production, Turkish cotton imports are expected to decrease significantly this year. Although the U.S. cotton exports to Turkey have decreased since the current year, the U.S. cotton market share in Turkish cotton imports has remained stable. In addition, exports of U.S. cotton to Mexico were flat year-on-year while the Mexican cotton imports this year are expected to increase. Mexico's cotton imports will still be 100% of the U.S. imports. US cotton exports to other parts of the world also increased by 80% YoY, while imports in these areas are forecast to be flat year on year. As a result, the share of U.S. cotton in cotton imports in most parts of the world will increase.
March 08, 2023