Australia’s cotton exports to China have resumed in recent days, after Australian coking coal arrived at a southern Chinese port in early February, the Global Times reported. , amid signs of improving bilateral economic relations between Australia and China since 2020.
Over the weekend, the USDA released its initial S&D forecasts for 2023/24, including lower Chinese production and significantly higher world consumption. On the second issue, US cotton acreage is projected to be 21% lower for 2023.
The cotton market is still in the middle of the trading range of 80.00-90.00 c/lb.
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