Know how the year-2021-22 was for the major cotton producing countries
The year 2021-22 can be called a year of immense changes for cotton. For the first time this year, cotton prices have reached more than double the MSP. The farmers of the country are happy with this, but a challenge has arisen for the traders. As a result, the government had to accede to the traders' demand for removal of import duty. However, it is difficult to say how much benefit will be given by removing the import duty limit. Along with India, the price of cotton has also been recorded in other major cotton producing countries this year. Based on all these changes, USDA has presented its report, in which it has been told that what was the situation of different countries in the year 2021-22 for cotton. Let's have a look at this report based on cotton scenario of major countries.
Production boom in Australia and Turkey
As usual, China and India remained ahead in cotton production this year as well, but the production figures of both these countries have decreased compared to last year. Whereas production of Australia and Turkey has increased compared to last year. Talking about exports, this year also the maximum export has been done from USA, but compared to last year, the export of USA has also decreased by 1.62 million bales. China's exports have come down, but in domestic use, China has made a strong boom in the last two years.
this year was bustling
If we look at the closing stock of the year 2021-22, then there is an end stock of 8.34 million bales in India, 3.07 in Australia, 2.54 in Bangladesh, 2.81 in Turkey, 3.5 in USA, 36.38 million in China. It is clear from the report that compared to the last two years, this year saw a lot of movement in production, price, export, import, domestic use and end stock.
