
US Upland cotton sales jump 217%, but shipment down this week: USDA
According to the USDA Weekly Export Sales Report, the increase was primarily driven by sales to Vietnam (33,600 RB, including 200 RB switched from Japan and decreases of 300 RB), Pakistan (13,000 RB), India (9,700 RB), Turkiye (7,700 RB, including decreases of 1,400 RB), and Bangladesh (6,600 RB, including decreases of 16,000 RB), partially offset by reductions for Guatemala (2,600 RB).
USDA data shows US Upland cotton net sales surged 217 per cent to 75,100 bales for the week ending July 3, 2025, with Vietnam, Pakistan, and India among top buyers. However, export shipments fell 6 per cent week-on-week. Net Pima sales stood at 3,400 bales, with shipments hitting a marketing-year high of 17,600 bales, led by Vietnam and India.
Net sales of 81,500 RB for the 2025–26 season were primarily for Bangladesh (23,100 RB), Vietnam (19,900 RB), South Korea (16,300 RB), Mexico (9,100 RB), and Egypt (6,600 RB), offset by a reduction for Honduras (100 RB).
Export shipments of 240,900 RB were down 6 per cent from the previous week but up 9 per cent from the prior four-week average. The main destinations were Vietnam (95,900 RB), Turkiye (46,400 RB), Bangladesh (21,900 RB), India (14,600 RB), and Guatemala (14,400 RB).
Net sales of Pima cotton totalled 3,400 RB for 2024–25, primarily for India (1,300 RB, including decreases of 1,200 RB), China (1,300 RB), Thailand (400 RB), Vietnam (100 RB), and Japan (100 RB), offset by a reduction for Germany (100 RB). Total net sales of 2,600 RB of Pima for 2025–26 were for India. Export shipments of 17,600 RB—a marketing-year high—were up 61 per cent from the previous week and significantly above the prior four-week average. Key destinations included Vietnam (8,700 RB), India (4,200 RB), Pakistan (1,300 RB), Thailand (1,100 RB), and China (1,000 RB).
Fibre2Fashion News Desk (KUL)

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Fibre2Fashion
3 hours ago
- Fibre2Fashion
Germany's Puma revises 2025 outlook amid sales dip & tariff impact
German sports apparel and footwear company Puma has reported preliminary results in the second quarter (Q2) of 2025, witnessing a currency-adjusted (ca) decline of 2 per cent in its sales to reach €1,942 million. Currency headwinds significantly impacted reported figures, reducing sales by approximately €135 million, or 8.3 per cent. The gross profit margin declined 70 basis points (bps) to 46.1 per cent due to increased promotional activity and adverse currency effects. The adjusted EBIT of the company fell to €13.2 million, further impacted by lower margins. The company reported one-time costs of €84.6 million (~$99 million). The quarter closed with a net loss of €247 million (~$291.46 million). North America was down by 9.1 per cent YoY, Europe saw a decline of 3.9 per cent YoY, and Greater China went down by 3.9 per cent, while Latin America was up 16.1 per cent and Eastern Europe, Middle East, and Africa (EEMEA) increased by 0.5 per cent, Puma said in a press release. Puma has reported a 2 per cent sales decline in Q2 2025 to €1.94 billion (~$2.27 billion), with net loss at €247 million (~$291.46 million) due to lower margins and €84.6 million (~$99 million) in one-time costs. H1 sales dropped 1 per cent to €4.02 billion (~$4.70 billion). Weakened wholesale, US tariffs, and inventory build-up led to a revised forecast: full-year sales are now expected to decline. Segment-wise, wholesale business saw a declining performance of 6.3 per cent, offsetting a 9.2 per cent increase in direct-to-consumer (DTC) sales, with e-commerce seeing double-digit growth. Category-wise, footwear grew 5.1 per cent, but this was offset by declines in apparel, which fell by 10.7 per cent, and accessories, which declined by 6.4 per cent. For the first half (H1) of 2025, preliminary sales dropped 1 per cent to €4.02 billion (~$4.7 billion) a drop of 4.8 per cent on reported basis, with adjusted EBIT at €62.5 million and one-time costs totalling €102.6 million. The net loss stood at €246.6 million. Inventories surged 18.3 per cent currency-adjusted to €2,151 million, driven by higher levels in key markets. Puma has revised its full-year guidance. Currency-adjusted sales have been forecast to decline by a low double-digit percentage (previously: a low- to mid-single-digit increase). EBIT for full-year 2025 has been expected to result in a loss (previously: €445 million to €525 million), reflecting softer topline performance, intensified currency headwinds, the impact of US tariffs, and additional one-off measures aimed at cost base alignment in H2 2025. An earnings outlook has been provided for reported EBIT only. Following the second-quarter results and the subdued growth outlook for the remainder of 2025, capital expenditure plans have been revised to around €250 million (previously: approximately €300 million). Fibre2Fashion News Desk (SG)


Fibre2Fashion
6 hours ago
- Fibre2Fashion
IMF advises US to rein in deficit, calls for fiscal reforms
The IMF has advocated fiscal consolidation and a reduction in trade tensions in the United States, stating that the country's external position in 2024 was moderately weaker than warranted by fundamentals. A wider current account (CA) deficit—3.9 per cent of GDP, up from 3.3 per cent in 2023—was driven by a larger goods deficit and a shift in the primary income balance. The CA deficit is projected to gradually narrow to around 2.5 per cent of GDP as private savings increase, the IMF said in its External Sector Report. The IMF has advocated fiscal consolidation and reduced trade tensions in the United States, stating that its external position in 2024 was moderately weaker than warranted by fundamentals. The current account deficit rose to 3.9 per cent of GDP, while the NIIP worsened to â€'89.9 per cent. The IMF highlighted a 11.9 per cent REER overvaluation and urged policy reforms to ensure financial stability. IMF recommends that US policymakers aim for a general government primary surplus of around 1 per cent of GDP to place public debt on a declining path and restore external balance. It cautioned that industrial policies should remain narrowly targeted, avoiding implicit import bias, and urged efforts to constructively address trade frictions, promote predictability, and pursue non-discriminatory trade liberalisation. The net international investment position (NIIP) deteriorated sharply to –89.9 per cent of GDP in 2024, from –71.6 per cent in 2023, mainly due to valuation losses linked to stronger US equity performance and a 2.4 per cent appreciation in the US dollar. Around 70 per cent of US external assets are foreign-currency denominated, while liabilities are largely in US dollars—making the NIIP highly sensitive to currency shifts. The IMF assessed the real effective exchange rate (REER) as overvalued by 11.9 per cent, consistent with the CA gap. The CA norm was estimated at –2.2 per cent of GDP, versus a cyclically adjusted CA of –3.6 per cent, implying a model-based CA gap of –1.4 per cent of GDP. While the US financial account deteriorated modestly in 2024 to –4.3 per cent of GDP due to stronger investment flows, the Fund noted that risks to financial stability are mitigated by the dollar's reserve currency status, deep capital markets, and institutional strength. Nevertheless, it stated that an unexpected fall in foreign demand for US debt—particularly due to fiscal sustainability concerns—could pose risks. Fibre2Fashion News Desk (HU)


Fibre2Fashion
a day ago
- Fibre2Fashion
China's current account surplus hits 2.3%; IMF cautions on risks
The International Monetary Fund (IMF) has called on China to implement stronger policy measures to address its external imbalances, even as the country reported a 2.3 per cent GDP current account surplus in 2024. This surplus marks a significant increase from 2023 and was driven by a surge in exports, which rose by 7.2 per cent due to improved competitiveness and robust external demand. The IMF has urged China to address external imbalances, despite a 2.3 per cent GDP current account surplus in 2024, driven by strong exports. Capital outflows and RMB depreciation remain concerns, while the IMF recommends reducing industrial policies, liberalising trade, and encouraging investment. Financial outflows and a historic low in FDI were noted. The goods balance saw a substantial improvement, reaching 4.1 per cent of GDP, supported by declining domestic prices and a frontloading of exports ahead of potential tariff hikes. Despite the positive export performance, the IMF highlighted continued vulnerabilities, particularly from sustained capital outflows and the ongoing depreciation of the Chinese yuan (RMB). The real effective exchange rate (REER) depreciated by 2.6 per cent in 2024, marking the third consecutive year of declines and signalling persistent external pressures. However, the nominal effective exchange rate (NEER) appreciated by 0.6 per cent in 2024, indicating some resilience in the currency against a basket of major trading partners' currencies, albeit not sufficient to offset the effects on the real exchange rate. The IMF recommended a strategic reduction in industrial policies and a shift towards a more liberalised and transparent trade policy to foster economic integration and resolve trade tensions. Structural reforms, including relaxing regulatory barriers to encourage investment, are also deemed crucial for the country's long-term economic stability. The financial account showed deterioration, with net outflows reaching -2.5 per cent of GDP, primarily due to large portfolio outflows and a historic low in foreign direct investment (FDI). The IMF pointed to China's interest rate differential with advanced economies, trade tensions, and concerns over China's economic outlook as the driving forces behind these trends. The IMF also advocated for the gradual opening of China's capital account, encouraging two-way financial flows while carefully managing financial stability. Despite these challenges, China's foreign exchange reserves grew by $6 billion in 2024, reaching $3.5 trillion. While the reserves are deemed adequate, the IMF stressed that China should be ready for temporary foreign exchange interventions if large-scale capital outflows pose risks to financial stability. Fibre2Fashion News Desk (HU)