Cotton imports in Thailand are expected to increase to 1.6-1.7 million bales, during the marketing year (MY) of 2014/15 (August 2014 to July 2015), as spinners will likely recover from the domestic economic downturn, states a report by the United States Agricultural Department (USDA).
According to the USDA report on Thailand Cotton 2014, cotton imports from the US are also expected to increase to approximately 500,000 bales during MY2014/15, as spinners prefer the higher quality fiber to ensure yarn quality, particularly for the superior medium-count yarn.
“Meanwhile, cotton imports for MY2013/14 are revised down to 1.5 to 1.6 million bales which is expected to increase only 3 percent from the previous year due to the slowdown of the Thai economy”, the report adds.
As per the report, “in the first half of the current marketing year (MY2013/14), cotton imports in the country increased by 14 percent year-on-year, however, overall imports will likely be offset by the worsening domestic economy during the second half of the marketing year.”
According to the USDA report, during MY2012/13, cotton imports by Thailand increased significantly to 1.5 million bales, registering a rise of 19.5 percent compared to the previous marketing year, owing to the recovery of spinning mills from low demand during the previous year.
The demand for imported cotton during MY2012/13 was driven by the strong demand for cotton yarn and cotton fabric, the report adds.
