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United StatesDepartment ofAgriculture

ForeignAgriculturalService

Circular SeriesFOP 09- 10September 2010

Cotton:World Markets and Trade

Record Early-Season U.S. Export Sales

As Prices Surge

Early!Season!Commitments

0

1

2

3

4

5

6

7

/06

/07

/08

/09

/10

/1

M

ill

ion

Runnin

!Bales

Prices Almost Double In

Just 18 Months

40

50

60

70

80

90

100

C

en

ts

p

er

P

o

u

n

d

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/0 /0 /0 /09

/1 /1

Monthly!Average!Cotton!Prices

0

10

2030

40

50

60

70

80

90

100

Mar-

08

May-

08

Jul-

08

Sep-

08

Nov-

08

Jan-

09

Mar-

09

May-

09

Jul-

09

Sep-

09

Nov-

09

Jan-

10

Mar-

10

May-

10

Jul-

10

Sep-

10

USc

ents/lbs

A-Index Spot Price

Price

U.S. spot prices continue to rise on strong foreign demand prospects. The A-Index for

2009/10 was not quoted in July due to the lack of availability of old crop cotton. The A-

Index for August averaged 90.35 cents/lbs, the highest since October 1995.

TRADE CHANGES IN 2010/11

Major Exporters:

! United States is raised 500 000 bales to 15 5 million as foreign demand grows

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Major Importers

! China is raised by 250,000 bales to 12.75 million because of reduced productionin 2009/10 and 2010/11.

! Bangladesh is lowered by 100,000 bales due to limitations on available supplies! Brazil is raised 300,000 bales to 900,000 in order to meet increased consumption

and export commitments

! Pakistan is lowered 500,000 bales due to lower consumption..

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Foreign Agricultural Service/USDAOffice of Global Analysis

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Foreign Agricultural Service/USDAOffice of Global Analysis

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Foreign Agricultural Service/USDAOffice of Global Analysis

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Foreign Agricultural Service/USDAOffice of Global Analysis

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Foreign Agricultural Service/USDA