WORLD 1995/96 EXPORT COMMITMENTS

摘要

World export commitments as of mid-November 1995 reached an estimated 3.8 million tons, 61% of projected world exports during 1995/96, and exceeded by 400,000 tons export sales made at this time in 1994/95. Almost 1.3 million tons, or 20% of projectedworld trade in 1995/96, were committed for exports between mid-September and mid-November 1995. US sales to known destinations rose by 380,000 tons between mid-September and mid-Novemberand reached 1.25 million tons. The increase includes 185,000 tons shifted from the unknown destinations category, which diminished to 185,000 tons. About 670,000 tons of US sales, mostly to unknown destinations, were registered for export during the second half of November 1994, when forward Step 2 payments by the government to exporters were in effect. It was assumed that most of the unknown-category cotton was actually sold later during the season. China (Mainland) accounted for most of the increase in US export commitments during the past two months; compared to mid-September 1995, US sales to China (Mainland) rose by 170,000 tons and reached 260,000 tons as of mid-November. However, it is believed that m ost of the US cotton sales to China (Mainland) registered recently were made earlier during the season, and China (Mainland) is not currently searching for additional quantities of cotton. There is also a possibility that recent increases in US sales, including sales to China (Mainland) and shifts in registrations from unknown destination to known destination categories, could be related to US government investigations of some of the largest US exporters concerning Step 2 payments.