The operating margins of Indian cotton yarn spinners may shrink by 100-150 basis points (bps) in fiscal 2019-20 owing to lower cotton output, rising cotton prices and moderating demand, reversing the recovery seen the previous fiscal, according to rating agency CRISIL. That, however, is unlikely to materially affect the credit profiles of spinners, it said. […]
India is set to grow soybeans on more land in the 2019 crop year as higher prices for the oilseed push some farmers to switch from cultivating competing commodities such as cotton and pulses, a top official of the Soybean Processors Association of India (SOPA) told Reuters. Increased production of India’s main summer-sown oilseed could […]
World ending stocks for cotton are forecast down for the sixth consecutive year on record consumption, the U.S. Department of Agriculture (USDA) said in its first detailed forecast for the 2019/20 marketing year. However, stocks outside of China will grow after declining in 2018/19 and reach a record of nearly 45 million bales, it said […]
India’s cotton imports are likely to rise by 80 per cent this crop year (October 2018 to September 2019) to 2.7 million bales (one bale equals 170 kg) as compared to 1.5 million the previous year, according to latest data compiled by apex industry body, Cotton Association of India (CAI). “The major reason is unavailability […]
The latest World Agriculture Supply and Demand Estimate report from the U.S. Department of Agriculture (USDA) gave the following projections for various crops for 2018/19. World 2018/19 wheat supplies are raised 2.1 million tons due mainly to increased beginning stocks that largely reflect multi-year revisions for Iran. Global production and exports are each reduced fractionally, […]
While the global cotton industry continues to face a number of challenges — trade uncertainties, slowing economic growth and weakening demand — consumption is still expected to set an all-time high in 2019/20, reaching 27.3 million tonnes, the International Cotton Advisory Committee (ICAC) said. However, that record-breaking number still won’t be enough to keep global […]
India’s monsoon is likely to be a robust and healthy one this year provided there isn’t a surprise El Nino phenomenon, India Meteorological Department (IMD) said. Monsoon rains, the lifeblood for India’s farm-dependent $2.6 trillion economy, arrive on the southern tip of Kerala state around June 1 and retreat from the desert state of Rajasthan […]
Cotton procurement by state-run Cotton Corporation of India (CCI) has almost come to a standstill as prices have firmed up in the open market. CCI has procured 11.6 lakh bales so far, nearly four times the amount collected during the same period the previous year, top officials said and maintained the cotton body would remain […]
The 2018/19 global oilseed outlook includes lower production, crush, and increased stocks compared to last month, the U.S. Department of Agriculture (USDA) said in its latest monthly report. Global oilseed production is down 0.2 million tons, with lower soybean production more than offsetting higher rapeseed and cottonseed, it said, adding that soybean production was reduced […]
Global cotton consumption is projected to post its third straight year of growth — but just barely, with an expected increase of only 0.04%, the International Cotton Advisory Committee (ICAC) said in its latest forecast. Many of the top consuming countries are undergoing a slowing in consumption growth, including: East Asia — 6%, down from […]
