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Cumulative Cotton Imports Remain Down from 06/07
Source: Globecotnews Date: 2008-06-26
Through the first nine months of the marketing year, lower Taiwanese cotton imports reflect the malaise impacting mill demand in the country described here. Cotton imports are off -14.4%, compared to the USDA’s anticipated decline in imports from last marketing year of -18.1%. Shipments so far this marketing year from individual countries present a mixed picture, as imports from largest supplier the U.S. (down -12.1%), Ivory Coast (-61.2%), and Mali (-91.3%) account for most of the decline, offsetting smaller increases from India (up 11.8%), Brazil (+10.3%), and Pakistan (+239.6%). At the given pace of imports, Globecot forecasts that full-year shipments to Taiwanese shores will fall to 993,000 bales, slightly above the USDA projection of 950,000, the lowest level in twenty-seven years.
