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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (4082)	1/5/2005 7:21:31 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Calcot Says Record U.S. Cotton Crop Will Be Sold Wed Jan 5, 2005 09:59 AM ET By Rene Pastor NEW ORLEANS, Louisiana (Reuters) - The record U.S. cotton crop will eventually be sold, primarily to Asia, and the tsunami disaster in the region has not affected the fiber trade there, a senior U.S. industry official said Wednesday. "We have a big crop, but it certainly has got a home," Robert Norris, president of the Calcot cotton cooperative, told Reuters in an interview at the annual U.S. Beltwide Cotton conference here. He said the crop "will find its way into the marketplace. By the time we get into the new crop next year, we should basically have most of this U.S. cotton marketed and shipped out of here." Calcot is one of the leading U.S. cotton cooperatives, which mainly sells fiber produced in California and nearby states. It is based in Bakersfield, California. According to the monthly report of the U.S. Department of Agriculture, American farmers will produce a record 22.82 million (480-lb) bales of cotton in the 2004/05 marketing year (August/July). In most years, the crop had ranged between 17 million and 19 million bales. Norris said Calcot plans to "move a good bit of cotton into China," which has emerged in recent years as a major importer of American cotton and is the world's largest consumer of the fiber. The USDA forecast that China, whose booming apparel and textile industry has turned it into the world's biggest cotton consumer, will import 7.75 million bales of cotton in 2004/05. Norris added that Calcot will also ship and sell cotton to India, Thailand and Hong Kong. reuters.com