TextTable

April 2005 Edition:

Turkey Cotton Imports Hit Record, U.S. Share Slips

Turkey’s cotton imports and mill use are expected to soar to record levels in MY 2004/05. Meanwhile, the United States, Turkey’s primary cotton supplier, is losing market share despite increasing exports. For 2004/05, Turkey’s imports are forecast at 3.15 million 480-lb bales, up 33 percent from 2003/04; local consumption is forecast at 6.75 million bales, up 9 percent.

Turkey is the world’s second largest cotton importer and among the top three markets for U.S. exports. As of March 31, more than 1.2 million bales of U.S. cotton were exported to Turkey, up 400,000 bales from 2003/04. Although U.S. cotton exports to Turkey have increased in 2004/05 as compared to last year, U.S. market share has faded from 54 percent to 49 percent through January. Greece has picked up the majority of Turkey’s increase in imports, driving its market share up from 16 percent to 34 percent over the same period. As a result, U.S. exports are not expected to eclipse 60 percent market share for the season as seen in the previous two seasons. MY 2004/05 appears to be shaping up similar to 2001/02 when the U.S. held 53 percent market share and Greece held 27 percent. For the past three seasons, U.S. exports to Turkey have been stable despite variations is Turkey’s total imports.

Increased Turkish imports are mostly due to government action to stop the in-flow of low-priced yarn and fabric from the FSU and Asian countries. Tax incentives for processing imported yarns and re-exporting the final products are no longer offered to Turkish mills. Lower yarn imports have led to increased domestic cotton spinning. Additionally, a strong lira and new protocol expanding a preferential customs union to the ten newest members of the EU will continue to support local mill use and the country’s dependence on cotton imports.

World and U.S. Cotton Situation and Outlook
Marketing Years 2002/03, 2003/04 and 2004/2005
1,000 480-Lb. Bales
	World				US
	2002/03	2003/04	2004/2005	% Change 03/04 - 04/05	2002/03	2003/04	2004/2005	% Change 03/04 - 04/05
Production	88,295	95,085	119,218	25.4%	17,209	18,255	23,080	26.4%
Imports	30,159	33,959	33,590	-1.1%	67	45	40	-11.1%
Use	98,492	98,563	107,054	8.6%	7,273	6,489	6,300	-2.9%
Exports	30,406	33,053	33,488	1.3%	11,900	13,759	13,200	-4.1%
Ending Stocks	38,125	35,617	47,834	34.3%	5,385	3,506	7,100	102.5%

Download Cotton Supply and Demand Database {.csv}

Download Cotton Circular {.pdf}

TABLE OF CONTENTS

Statistical tables contained in this circular may be viewed in Adobe Acrobat format ® {.pdf}.

Tables

Summary of Changes (1,000 480-lb. bales) {.pdf}

Table 1: World Cotton Supply, Use and Trade, 1999/2000-2004/2005 (1,000 metric tons) {.pdf}

Table 2: World Cotton Supply, Use and Trade, 1999/2000-2004/2005 (1,000 480-lb. bales) {.pdf}

Table 3: FY 2002 GSM-102 and Supplier Credit Programs {.pdf}

Table 4: Area, Yield, and Production by Country 2003/2004-2004/2005 {.pdf}

Table 5: Cotton Supply & Distribution by Country 2004/2005 (1,000 480-lb. bales) {.pdf}

Table 5-A: Cotton Supply & Distribution by Country 2004/2005 (1,000 metric tons) {.pdf}

Table 6: Cotton Supply & Distribution by Country 2003/2004 (1,000 480-lb. bales) {.pdf}

Table 6-A: Cotton Supply & Distribution by Country, 2003/2004 (1,000 metric tons) {.pdf}

Table 7: Export Sales Summary {.pdf}

Table 8: Northern European Cotton and Adjusted World Price {.pdf}

Table 9: World Cotton Production, Yield, Supply, and Utilization {.pdf}

Table 10: United States Cotton Production, Yield, Supply, and Utilization {.pdf}

Table 11: Foreign Cotton Production, Yield, Supply, and Utilization {.pdf}

Statistical tables are available in Adobe Acrobat. You may need to GET the Acrobat reader.

Last modified: Tuesday, August 30, 2005