The Turkish cotton crop for Marketing Year (MY) 2021/22 is forecast at 450,000 hectares and 825,000 metric tons (MT; 3.79 million bales). Cotton consumption is expected to be 1,850,000 MT (8.50 million bales) for the same MY.
With the China Cotton Index (CC Index 3128B) price surging 58 percent from its August 2020 level to RMB 20,150 (or, approximately U.S. $3,100) per metric ton (MT) on October 8, 2021, the Chinese government (PRC) is taking steps to rein in prices.
Cotton imports are forecast at 2.6 million metric tons (MMT) in marketing year (MY) 21/22. U.S. cotton exports to China surged to 1.2 MMT in the first 11 months of MY20/21, up from the 0.47 MMT in MY19/20, pushing the U.S. share of China’s cotton imports to 45 percent.