NEW YORK: USDA cotton export sales highlights for latest reporting week: Net Upland sales of 141,100 running bales were up noticeably from the previous week, but down 11 percent from the prior 4-week average.
Increases were reported for Thailand (24,800 RB), China (21,900 RB), Turkey (15,300 RB), Colombia (14,900 RB), Taiwan (12,100 RB), Mexico (11,200 RB), South Korea (8,800 RB), and Malaysia (7,800 RB). Decreases were reported for Pakistan (1,400 RB) and unknown destinations (1,100 RB). Net sales of 58,100 RB for delivery in 2009/10 were mainly for Indonesia (24,600 RB), Colombia (20,200 RB), and South Korea (5,100 RB).
Decreases were for China (3,500 RB). Exports of 445,200 RB-a marketing-year high-were up 95 percent from the previous week and 52 percent from the prior 4-week average. The primary destinations were China (148,800 RB), Turkey (50,600 RB), Pakistan (39,500 RB), Mexico (36,700 RB), Indonesia (29,900 RB), and Vietnam (23,900 RB).
Net American Pima sales of 11,500 RB were primarily for China (4,500 RB), Pakistan (2,800 RB), and India (2,400 RB). Exports of 4,200 RB were mainly to Brazil (1,000 RB), Turkey (700 RB), and Bangladesh (400 RB).
WORLD MARKET PRICE FOR UPLAND COTTON The US Agriculture Department set the prevailing world market price for upland cotton at 44.59 cents per lb, effective through May 28. The price is adjusted to US quality and location for Strict Low Middling, 1-1/16 inch upland cotton.
USDA also announced a special import quota for upland cotton that permits importation of a quantity of upland cotton equal to one week’s domestic mill use. The quota will be established on May 28, allowing importation of 13,711,541 kilograms (62,977 bales) of upland cotton. The next announcement for upland cotton will be on May 28.
BURKINA TARGETS 520,000 TONNES OF COTTON IN 09-10 West Africa’s biggest cotton grower Burkina Faso is aiming for 520,000 tonnes in 2009-10, up from 446,000 tonnes in the season just ended, its main producer SOFITEX said late on Wednesday. The 2008-09 crop once again fell far short of expectations, coming in well below the 650,000 tonnes originally targeted by SOFITEX. The firm, in which the government holds a minority stake, intends to produce 475,000 tonnes of that total.
“We need to enhance productivity. We need these 475,000 tonnes to reach our goal,” said Celestine Tiendrebeogo, director of SOFITEX. Bad weather in the past three seasons has led to cotton harvests coming in below forecasts. Production hit a record 700,000 tonnes in 2005-06, before crashing to 360,000 tonnes in the following season.
