China: BCO supply and demand estimates

In its September review of China’s prospective supply and demand, Beijing Cotton Outlook (BCO)  has maintained production for the 2015/16 season at 4,530,000 tonnes, whereas prospective imports (September/August) increased by 20,000 to 980,000 tonnes. Total demand is 7,570,000 tonnes, exports remain unchanged at 20,000 tonnes. As a result, BCO’s projection of 2015/16 season’s ending stocks has been lowered by 330,000 to 10,640,000 tonnes.

Meanwhile, production in 2016/17 has been increased by 30,000 to 4,500,000 tonnes, total consumption is also 7,570,000 tonnes, exports unchanged at 20,000 tonnes. BCO’s figures suggest that stocks will be reduced in 2016/17 by 2,170,000 tonnes, to 8,470,000 tonnes. That carryover is 650,000 tonnes lower than forecast in August.

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Posted in: Cotlook Headlines