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Turkish cotton to hit a 10-year high next year, predicts USDA

US officials are of the view that consumption of Turkish cotton will hit a 10-year high next year as the country's cotton industry invests in new technology. Turkish mills have been investing in new machinery and technology to increase quality and lower costs in order to get ahead in the very competitive international textile trade. Thanks to increased sales in Europe, as well as thawing of relations with Russia, the US Department of Agriculture's (USDA) bureau in Ankara saw exports of Turkish textile rising.

The country’s domestic cotton consumption is expected to rise to 6.89m 480 pound bales in this fiscal (2016-17), This sees a climb of 115,000 bales from the previous session. This is also 285,000 bales above the USDA's official 2016017 forecast.

Political instability among many of Turkey's neighbours is forcing the industry to focus on competing in the European markets. Talking of political instability, it is an atmosphere of war in Syria, Iraq and Ukraine and also stalling of exports to Russia after the Turkish downing of a Russian plane in November 2015, it is gathered. Meanwhile, the mills in the country had to lower their margins to keep their market share in the European market to continue operating. Also, the bureau is quoted to have said heavy production will shrink imports but by less than expected, due to robust demand. The bureau saw imports at 4.02 million bales in 2016-17, down from 4.13 million bales in the previous season. This is some 216,000 tonnes above the USDA's official forecast.

On the imports side, imports from the US will fall due to anti-dumping legislation. Some time ago, after a lengthy anti-dumping investigation, the Government of Turkey had announced three per cent anti-dumping duty on the US cotton imports starting from April 2016. But all said and done, the US will remain the top seller to Turkey.

 
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