USDA pegs Bangladesh year-to-Jul 2018 cotton opening stock down 7% on year.

The USDA Foreign Agricultural Service expects Bangladesh cotton opening stock in 2017-18 (Aug-Jul) to fall 7% on year to 1.06 million bales (1USbale=480pound). Cotton beginning stocks at 1.14 million bales. The Foreign Agricultural Service links US agriculture to the world to boost export opportunities and global food security. The US agency has projected Bangladesh year-to-July 2018 cotton crop to increase marginally by 4% on year to 130,000 bales due to favorable weather and increased acreage in long-staple American upland variety. Imports have been estimated at 6.2 million bales for the next season, compared with 6.0 million bales More than 40% of imported raw cotton and 80% of imported yarn and fabrics are used by spinning mills and the ready-made garment sector to meet export demand. Mills in Bangladesh are consuming 6.3 million bales of the commodity in 2017-18, up marginally from 6.2 million bales this year, while closing stock at the end of 2017-18 season is pegged at 1.08 million bales, up from 1.06 million bales this year.