Due to the tension between India and Pakistan, Indian consignment cotton exports to Pakistan will be significantly reduced in the near future. By contrast, China has shipped about 400000 bales of Indian cotton (170kg) over the past 10 days and a further 100000 bales in the near future. The Indian Cotton Association says China will begin to increase its purchases as China's reserves of cotton fall.
It is reported that Pakistan has signed a contract to import 800000 bales of Indian cotton and has shipped 650000 bales. Pakistan is expected to import about 1 million bales of Indian cotton this fiscal year. Some exporters believe that Indian cotton can bypass Dubai and Singapore to Pakistani ports, so Indian cotton exports to Pakistan will not stop.
India has shipped 3.2 million bales of cotton so far this year and exports are expected to reach 500-5.5 million bales. In addition to Pakistan, China, Indian cotton exports to Vietnam, Indonesia, Bangladesh.
Since June 2018, global cotton prices have been under pressure due to the overall weakening of global cotton prices. Compared with 2017 / 18, the global supply of long-staple cotton has increased significantly this year. Since the fourth quarter of 2018, long-staple cotton consumption has also begun to weaken, and this year's production of long-staple cotton may exceed consumption of 290000 bales.
India is the largest consumer of long-staple cotton, consuming close to 750000 bales of cotton this year. China produces about 275000 bales of long-staple cotton, and consumption is expected to be 690000 bales, accounting for about 1 / 3 of global consumption. Egypt produces 500000 bales of long-staple cotton, of which Giza 94 and Giza 86, the US's main competitors, produce more than 410000 bales.
This year, India was Egypt's biggest buyer of long wool cotton. So far, India has imported 169600 bales of American pimp cotton this year, up from 152800 bales a year earlier.
Market diversification is a long-term plan to optimize the export structure of our country, and it is also an effective measure to stabilize the export. The first is to steadily promote the "Belt and Road" construction and open up the markets of countries along the routes. Second, increasing support for exports by policy-based financial institutions. Third, increasing support for small and medium-sized enterprises in opening up overseas markets. We will further promote pilot projects for the innovative development of trade in services, summarize and promote successful experiences in a timely manner, form an institutional environment conducive to enhancing the competitiveness of the service industry, further expand the opening up of the service industry, and introduce high-quality resources and competitive pressures, to increase the international competitiveness of the service industry. At the same time, we should make good use of the achievements of the information technology revolution, developing service outsourcing and other industries.
