New Cotton Production is Higher Than Expected in Pakistan

According to the statistics of Pakistan Cotton Ginning Association (PCGA), as of November 1, the cumulative amount of Pakistani new cotton market reached 1.383 million tons, an increase of 17.1% comparing with the 1.181 million tons production in last year. New cotton processing capacity of 1.146 million tons in 2017 and it was 966,000 tons of the same period in last year.

Global Cotton Production will Be Substantial Surplus by 6.9% Increasing Rate

News from US media said, due to high prices of cotton lead to cotton farmers to expand the acreage, and China from the strategic reserves will be placed in the excess inventory to the market, the cotton supply will be substantial surplus.

According to the US Department of Agriculture estimates that in the August 1 this year, the beginning of the cotton season, global production will rise 6.9%, in addition to China's global inventory will record a record high. The United States is the world's largest cotton exporter, the US cotton farmers are expected to be the largest harvest in 10 years, Australia and India's cotton harvest will also increase.