Accoring to the data published by U.S. Department of Agriculture (USDA), by importing 83.4 thousand bales of cotton from U.S.A last year between 12-19 December, Turkey passed China which is known as U.S.A's largest importer of cotton. In that period, while 221,6 million bales of cotton sales was being performed in U.S.A, 43.4 thousand bales of it was imported by China. Likewise, the cotton import from U.S.A in 19-26 December week, 28,2 thousand bales from Turkey and 22,7 thousand bales from China. So, by importing 111,6 thousand bales of cotton from U.S.A during 12-26 December, Turkey, has left behind China which has imported 66,1 thousand bales of cotton in the same period. In the cotton sector, where U.S.A is no:1 exporter, the largest importers are known as China,Turkey, Mexico, Vietnam and Indonesia.
Cotton consumption can reach 1 million tons in 2015
Forward Transaction and Commodity Market Specialist Zafer Ergezen made evaluations about the subject, stating that China-related developments has been closely followed by the market and that the country almost determines the cotton market by itself. Ergezen giving the information about China by reducing its cotton stocks, its share in the world stock has decreased 59,4 percent and the pointed number has reached to 62 percent at the beginning of this season.
Ergezen pointed out that in addition to reduced stocks, China's cotton imports slowed down, saying: “As a result, China has become a serious threat to cotton price. If China's cotton purchases continues to slowdown, the selling pressure on the cotton price will increase. In this case the cotton price can relax under 80 cent/lb. China, reducing the cotton import , worked for Turkey. With the drop of cotton price, Turkey came to the fore in cotton purchases. Thus, Turkey overtook China in 2013-2014 season and became U.S.A's largest cotton purchaser. Turkey was already known as a major force in the cotton market. In consumption, China follows India and Pakistan. Turkey's biggest difference from these countries is seen as the low production. However, if the production amount can be increased, this can provide advantage in terms of the textile industry's competitiveness in international markets."
High Growth Increases Demand
Zafer Ergezen stated that, Turkey's textile sector activity and achieving high growth rates, increases the demand for cotton and cotton consumption increases in an orderly manner. In case of the economic growth continues to expectations in parallel, Ergezen who predicts the cotton consumption in 2015 will might reach to 1 million tons, “Because of the low price of cotton is also an advantage. But U.S.A being the main exporter of the cotton and China being the largest consumer, causes these two countries to determine the price of the cotton. The strings, are in the hands of these two countries.”
