platinum price forecast 2012 : HSBC has cut its 2011 platinum and palladium price forecasts but upped its outlook for the period from 2012 to 2018, citing expectations that the market will move from a modest surplus into deficit.
The bank said Friday it had cut its outlook for platinum for the year to $1,825 a troy ounce from $1,850/oz previously, and reduced its palladium outlook to $785/oz from $825/oz.
The bank raised its 2012 platinum forecast from $1,750/oz to $1,875/Oz and its 2013 forecast for the metal from $1,650/oz to $1,825/Oz. It also increased its long-term platinum price forecast for the period from 2014 to 2018 by 10.8% from $1,625/oz to $1,800/Oz.
HSBC also increased its 2012 palladium forecast from $750/oz to $810/Oz, its 2013 palladium forecast from $725/oz to $825/Oz, and its long-term palladium forecast by 21% from $700/oz to $850/Oz.
Related post Platinum and Palladium price forecast 2012
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Showing posts with label Commodity. Show all posts
Showing posts with label Commodity. Show all posts
Saturday, September 3, 2011
Thursday, September 1, 2011
cotton prices predictions 2012
cotton prices predictions 2012 ; The first U.S. Department of Agriculture (USDA) cotton forecast for 2011/12 projects growth in both world cotton production and consumption, with production exceeding consumption for the first time in 7 years. Global production is forecast to rise to a record of about 125 million bales, 10 million above 2010/11.
The nearly 9-percent growth rate for 2011/12 pushes the anticipated crop nearly 12 million bales above the 5- year average.
Cotton production in 2011/12 is forecast to increase in most of the major producing countries, led by India, China, and Pakistan. World cotton consumption for 2011/12 is projected at 119.5 million bales, 3 million higher than 2010/11 and the largest since 2007/08. Read World cotton production forecast 2011 -2012
Morgan Stanley (MS) cut its 2012-2013 cotton price forecast by 15 percent as the bank expects high prices to curb “near-term” demand and farmers to plant more.
Cotton may average 80 cents a pound in the marketing year ending July 2013, compared with 94 cents in an earlier projection, Hussein Allidina, the bank’s New York-based head of research, and Bennett Meier, said in a report dated yesterday. The 2011-2012 forecast was raised by 14 percent to $1 a pound.
These forecasts reflect our expectation that moderate near-term demand deferral and a large supply response this year will pressure prices in 2011, 2012 and beyond,
The global stocks-to-use ratio is likely to improve from the current 17-year-low level, Morgan Stanley said. “This estimate is contingent on yield improvements in China and Pakistan, as well as a further 7 percent increase in global acreage in 2011, compared to an average decline of 0.7 percent over the past 10 years.”
Our 2011/12 price forecasts imply 19 percent of additional downside to the futures curve through the end of the marketing year,” the analysts said.
Weather is “a growing risk” to U.S. production, they said, referring to drought in Texas, the largest cotton- producing state. About 63 percent of Texas cotton is unirrigated, they said and estimate nearly 3.8 million acres of crops stand a “heightened risk of abandonment or sub-trend yields.
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The nearly 9-percent growth rate for 2011/12 pushes the anticipated crop nearly 12 million bales above the 5- year average.
Cotton production in 2011/12 is forecast to increase in most of the major producing countries, led by India, China, and Pakistan. World cotton consumption for 2011/12 is projected at 119.5 million bales, 3 million higher than 2010/11 and the largest since 2007/08. Read World cotton production forecast 2011 -2012
Morgan Stanley (MS) cut its 2012-2013 cotton price forecast by 15 percent as the bank expects high prices to curb “near-term” demand and farmers to plant more.
Cotton may average 80 cents a pound in the marketing year ending July 2013, compared with 94 cents in an earlier projection, Hussein Allidina, the bank’s New York-based head of research, and Bennett Meier, said in a report dated yesterday. The 2011-2012 forecast was raised by 14 percent to $1 a pound.
These forecasts reflect our expectation that moderate near-term demand deferral and a large supply response this year will pressure prices in 2011, 2012 and beyond,
The global stocks-to-use ratio is likely to improve from the current 17-year-low level, Morgan Stanley said. “This estimate is contingent on yield improvements in China and Pakistan, as well as a further 7 percent increase in global acreage in 2011, compared to an average decline of 0.7 percent over the past 10 years.”
Our 2011/12 price forecasts imply 19 percent of additional downside to the futures curve through the end of the marketing year,” the analysts said.
Weather is “a growing risk” to U.S. production, they said, referring to drought in Texas, the largest cotton- producing state. About 63 percent of Texas cotton is unirrigated, they said and estimate nearly 3.8 million acres of crops stand a “heightened risk of abandonment or sub-trend yields.
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Monday, August 29, 2011
Commodities markets summary august 29 2011
Commodities markets summary august 29 2011 ; Oil prices jumped Monday in New York on news of a rebound in US consumer spending and relief that Hurricane Irene had caused no major damage to the petroleum industry on the nation's eastern coast.
New York's main contract, light sweet crude for delivery in October, closed at $US87.27 a barrel, up $US1.90 from Friday. In London, Brent North Sea crude for October delivery gained 52 US cents to settle at $US111.88 in thin trade due to a British public holiday
Stock markets in the United States, the world's biggest oil consumer, appeared to find reasons to believe Monday in the economy's potential to exit a slump that has some worrying about a return to recession.
Consumer spending rose 0.8 per cent in July, following a 0.1 per cent dip in June, the Commerce Department said.
The impact of Hurricane Irene, which battered the US east coast over the weekend, on oil operations was relatively weak, analysts said.
PRECIOUS METALS
Gold prices trimmed early steep losses in thin trade on Monday, with bullion down about 2.25 per cent after Wall Street stocks rallied as investors' risk tolerance increased.
But the downside was limited for the yellow metal, sought as a safe-haven in times of uncertainty or fear, with some players regarding declines as buying opportunities.
Spot gold was down 2.28 per cent at $US 1,783.20 an ounce at 2pm EDT (0400 AEST). Prices were highly volatile last week, sliding more than $US200 from their early peak at a record $US1,911.46 an ounce, dropping towards $US1,700.
In New York, COMEX gold for December delivery was off $US10.6 per ounce at $US1,786.7, a 0.60 per cent decline.
Gold's moves were limited in both directions by light volumes, however, with a bank holiday keeping London trade light and New York desks thinly staffed following a hurricane wracked US East Coast.
Dollar strength also pressured gold prices when it gained against the yen and Swiss franc, as strong US consumer spending data reduced fears of another recession.
Silver was down about two per cent at $US40.44 an ounce, tracking weakness in gold prices.
Spot platinum was down 0.5 per cent at $US1,817.99 an ounce, while spot palladium was lower at $US747.95 an ounce than $US752 at Friday's close.
BASE METALS
COMEX copper fell moderately on Monday, reversing earlier gains, when the dollar turned positive following a strong US personal spending reading, but selling was limited as the industrial metal found support from a rallying US stock market.
Moves were limited in both directions by light volumes with the London Metal Exchange closed by a bank holiday and New York desks thinly staffed following a hurricane wracked US East Coast.
The benchmark US September copper contract sold on the COMEX exchange was down $US1.25 at $US4.0865 per lb, about mid-range for trading during August. Earlier, it rose to $US4.1140 and fell as low as $US4.0575 a lb.
Dollar strength put some pressure on copper prices when it gained against the yen and Swiss franc, as strong US consumer spending data reduced fears of another recession.
US consumer spending rose at its fastest pace in five months in July, a further sign the economy is not falling back into recession, although manufacturing activity in Texas almost stalled this month.
Consumer spending increased 0.8 per cent on strong demand for motor vehicles as Japan-related supply restraints faded, a Commerce Department report showed on Monday. Spending had slipped 0.1 per cent in June.
So far, data from industrial production to retail sales and employment have been consistent with a slow-growth scenario rather than an outright contraction in economic output.
New York's main contract, light sweet crude for delivery in October, closed at $US87.27 a barrel, up $US1.90 from Friday. In London, Brent North Sea crude for October delivery gained 52 US cents to settle at $US111.88 in thin trade due to a British public holiday
Stock markets in the United States, the world's biggest oil consumer, appeared to find reasons to believe Monday in the economy's potential to exit a slump that has some worrying about a return to recession.
Consumer spending rose 0.8 per cent in July, following a 0.1 per cent dip in June, the Commerce Department said.
The impact of Hurricane Irene, which battered the US east coast over the weekend, on oil operations was relatively weak, analysts said.
PRECIOUS METALS
Gold prices trimmed early steep losses in thin trade on Monday, with bullion down about 2.25 per cent after Wall Street stocks rallied as investors' risk tolerance increased.
But the downside was limited for the yellow metal, sought as a safe-haven in times of uncertainty or fear, with some players regarding declines as buying opportunities.
Spot gold was down 2.28 per cent at $US 1,783.20 an ounce at 2pm EDT (0400 AEST). Prices were highly volatile last week, sliding more than $US200 from their early peak at a record $US1,911.46 an ounce, dropping towards $US1,700.
In New York, COMEX gold for December delivery was off $US10.6 per ounce at $US1,786.7, a 0.60 per cent decline.
Gold's moves were limited in both directions by light volumes, however, with a bank holiday keeping London trade light and New York desks thinly staffed following a hurricane wracked US East Coast.
Dollar strength also pressured gold prices when it gained against the yen and Swiss franc, as strong US consumer spending data reduced fears of another recession.
Silver was down about two per cent at $US40.44 an ounce, tracking weakness in gold prices.
Spot platinum was down 0.5 per cent at $US1,817.99 an ounce, while spot palladium was lower at $US747.95 an ounce than $US752 at Friday's close.
BASE METALS
COMEX copper fell moderately on Monday, reversing earlier gains, when the dollar turned positive following a strong US personal spending reading, but selling was limited as the industrial metal found support from a rallying US stock market.
Moves were limited in both directions by light volumes with the London Metal Exchange closed by a bank holiday and New York desks thinly staffed following a hurricane wracked US East Coast.
The benchmark US September copper contract sold on the COMEX exchange was down $US1.25 at $US4.0865 per lb, about mid-range for trading during August. Earlier, it rose to $US4.1140 and fell as low as $US4.0575 a lb.
Dollar strength put some pressure on copper prices when it gained against the yen and Swiss franc, as strong US consumer spending data reduced fears of another recession.
US consumer spending rose at its fastest pace in five months in July, a further sign the economy is not falling back into recession, although manufacturing activity in Texas almost stalled this month.
Consumer spending increased 0.8 per cent on strong demand for motor vehicles as Japan-related supply restraints faded, a Commerce Department report showed on Monday. Spending had slipped 0.1 per cent in June.
So far, data from industrial production to retail sales and employment have been consistent with a slow-growth scenario rather than an outright contraction in economic output.
Sunday, August 28, 2011
gasoline prices predictions september 2011
gasoline prices predictions september 2011 ; Political uprisings in Libya have caused oil prices to drop in recent days, and Louisiana drivers may see a benefit from the overthrow of Muammar Gadhafi. A goal of the rebel forces in Libya is to restart production in the country's oil fields. With more oil in the market, prices should be driven down. But Gamson said that the effects of Libyan oil production won't be seen in the near future.
The slowing national economy may have a silver lining for drivers: cheaper gasoline prices. The price of unleaded gasoline in the metro New Orleans area has fallen about 20 cents over the past month to $3.413 a gallon Friday, and the price is expected to keep sliding.
Any time there's disruption in an oil-producing region, it takes quite a while for the infrastructure to recover. We won't see the effects immediately.
gasoline prices will drop 10 cents in September from the current national average of $3.64 per gallon. In October, drivers could see prices drop another 8 cents per gallon.
Other factors could also play into the price of gasoline in the coming weeks., significant economic downturn to get gas prices back down to the mid-$2 range. Consumers likely won't see the full effects of the most recent drops at the pump for another two weeks.
Sixty-five percent of the cost of a gallon of gasoline is influenced by the price that a barrel of oil trades for on Wall Street. The other 35 percent, Smith said, is comprised of marketing and refining costs and taxes.
While there are occasionally immediate drops in gasoline prices, there is almost always a two-week lag between a dip in the price of oil and a decline in gas prices at the pump.
The Southern and middle regions of the U.S. generally see lower gasoline prices than the eastern United States, a trend that Gamson expects to continue. The Northeast imports its oil from overseas. But Midwestern and Southern states primarily use gasoline produced from oil that is found and refined in and around the United States.
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The slowing national economy may have a silver lining for drivers: cheaper gasoline prices. The price of unleaded gasoline in the metro New Orleans area has fallen about 20 cents over the past month to $3.413 a gallon Friday, and the price is expected to keep sliding.
Any time there's disruption in an oil-producing region, it takes quite a while for the infrastructure to recover. We won't see the effects immediately.
gasoline prices will drop 10 cents in September from the current national average of $3.64 per gallon. In October, drivers could see prices drop another 8 cents per gallon.
Other factors could also play into the price of gasoline in the coming weeks., significant economic downturn to get gas prices back down to the mid-$2 range. Consumers likely won't see the full effects of the most recent drops at the pump for another two weeks.
Sixty-five percent of the cost of a gallon of gasoline is influenced by the price that a barrel of oil trades for on Wall Street. The other 35 percent, Smith said, is comprised of marketing and refining costs and taxes.
While there are occasionally immediate drops in gasoline prices, there is almost always a two-week lag between a dip in the price of oil and a decline in gas prices at the pump.
The Southern and middle regions of the U.S. generally see lower gasoline prices than the eastern United States, a trend that Gamson expects to continue. The Northeast imports its oil from overseas. But Midwestern and Southern states primarily use gasoline produced from oil that is found and refined in and around the United States.
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Monday, August 22, 2011
Wheat, Soybean futures prices august 22 2011
Wheat Soybean futures prices august 22 2011 ; Soybean futures are trading higher at midsession. Outside market strength and ideas that USDA will lower crop condition ratings in the Crop Progress report this afternoon. Traders are looking for a small decline in the ratings as weekend rainfall missed some areas of the central Midwest. Futures have rallied to the highest level since late July. September is 11 3/4 cents higher at $13.71 1/2 and November is 11 1/4 cents higher at $13.79 3/4.
Wheat futures are higher at midday. The rally at the MGE is leading the way on reports of low yields during the spring wheat harvest. There remains concern in the HRW wheat belt about dry conditions ahead of seeding this fall. Outside markets are providing support to most commodity market as the stock market is higher this morning. Globally, recent heavy rain is a concern for the quality of the wheat crop in Germany. CBOT September is 4 cents higher at $7.34 3/4, KCBT September is 3 cents higher at $8.22 and MGE September is 14 3/4 cents higher at $9.60.
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Wheat futures are higher at midday. The rally at the MGE is leading the way on reports of low yields during the spring wheat harvest. There remains concern in the HRW wheat belt about dry conditions ahead of seeding this fall. Outside markets are providing support to most commodity market as the stock market is higher this morning. Globally, recent heavy rain is a concern for the quality of the wheat crop in Germany. CBOT September is 4 cents higher at $7.34 3/4, KCBT September is 3 cents higher at $8.22 and MGE September is 14 3/4 cents higher at $9.60.
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Cattle, Lean hog futures prices august 22 2011
Cattle, Lean hog futures prices august 22 2011 : Cattle futures are trading mixed at midsession. Broad based strength in commodity markets helped push cattle futures higher this morning. Strength in the stock market helped rally commodity markets. But front end futures turned lower on the bearish Cattle on Feed report released on Friday. The report showed July placements record high at up 22% from last year and on feed numbers up 8%. October is 5 cents lower at $115.40 and December is 23 cents lower at $117.10.
Lean hog futures are higher at midday. Strength in the stock market and a broad based rally in commodity markets are supporting the market. Pork cutouts were up 73 cents on Friday and cash prices were a little higher. Cash trade is steady to $1 lower this morning, but futures have already built in a big discount to the current cash market. October is 43 cents higher at $88.80 and December is 8 cents higher at $84.95.
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Lean hog futures are higher at midday. Strength in the stock market and a broad based rally in commodity markets are supporting the market. Pork cutouts were up 73 cents on Friday and cash prices were a little higher. Cash trade is steady to $1 lower this morning, but futures have already built in a big discount to the current cash market. October is 43 cents higher at $88.80 and December is 8 cents higher at $84.95.
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Corn futures prices august 22 2011
Corn futures prices august 22 2011 : Corn futures are solidly higher at midday. Strength in the crude oil trade and the stock market is supporting commodity markets. Traders are looking for USDA to lower its corn crop condition ratings by 1 or 2 points in the good to excellent categories in the Crop Progress report this afternoon.
Weekend rainfall missed some areas of the central Corn Belt. September is 5 cents higher at $7.16 and December is 4 3/4 cents higher at $7.30.
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Weekend rainfall missed some areas of the central Corn Belt. September is 5 cents higher at $7.16 and December is 4 3/4 cents higher at $7.30.
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Wednesday, August 17, 2011
Commodities market prices report august 17 2011
Commodities market prices report august 17 2011 : Commodities rose on Wednesday as investors hunted for bargains after many prices fell last week on concerns about the global economy. Sugar finished 5.2 per cent higher while coffee rose 4.6 per cent. Oil, industrial metals, wheat and soybeans also rose. Gold ended the day higher as well.
Investors sold off many commodities last week when worries built about financial issues in the US and debt problems in Europe. That caused volatile trading in commodities and the stock markets.
Stocks have stabilised somewhat this week, which is creating more interest in riskier investments such as commodities, analysts said.
"Now that the stock market has stopped falling and kind of gotten into at least a bit of a range for now, I think there's a little bit more risk coming back in," MF Global senior market strategist Rich Ilczyszyn said.
Investors are "looking around and a lot of these commodities have sold off pretty good from the highs," he said.
Commodities also are benefiting from a weaker dollar. Since commodities are priced in dollars, a weaker dollar makes them cheaper for investors who use other currencies.
In soft commodities such as sugar and coffee, prices fell enough to draw investors back into the market, said Jack Scoville, vice president of Price Futures Group. There also are tighter inventories for both, which are supporting the prices.
Coffee for September delivery rose 12 cents to finish at $2.63 a pound. That's an increase of 9 per cent since Aug. 1 and 50 per cent from August 2010.
The price spike came a day after J.M. Smucker Co said it would lower prices on its coffee products by 6 per cent on average to reflect the cheaper cost of beans. The company produces Folgers, Millstone and Dunkin' Donuts brands.
September sugar increased 1.45 cents to 29.49 cents a pound at day's end. The price is up nearly 2 per cent this month and 52 per cent from August 2010.
In other trading, December gold rose $8.80 to $1,793.80 an ounce after hitting $1,797.60 an ounce in earlier trading.
September silver increased 53.2 cents to finish at $40.351 an ounce, September copper climbed 3.8 cents to $4.032 a pound, October platinum rose $22.70 to $1,840.80 an ounce and September palladium increased $19.40 to $775.90 an ounce.
Oil also rose, pushed higher by an unexpected drop in US gasoline supplies and a weaker dollar.
Benchmark West Texas Intermediate crude for September delivery increased 93 cents to finish at $87.58 per barrel.
In other Nymex trading for September contracts, heating oil rose 2.9 cents to finish at $2.9616 per gallon, gasoline futures increased by 1.65 cents to $2.8703 per gallon and natural gas rose 0.1 cent to $3.933 per 1,000 cubic feet.
Agricultural contracts were mixed. September wheat rose 2.75 cents to finish at $7.275 a bushel, December corn fell 2 cents to $7.255 a bushel and November soybeans increased 17.25 cents to $13.6675 a bushel.
Investors sold off many commodities last week when worries built about financial issues in the US and debt problems in Europe. That caused volatile trading in commodities and the stock markets.
Stocks have stabilised somewhat this week, which is creating more interest in riskier investments such as commodities, analysts said.
"Now that the stock market has stopped falling and kind of gotten into at least a bit of a range for now, I think there's a little bit more risk coming back in," MF Global senior market strategist Rich Ilczyszyn said.
Investors are "looking around and a lot of these commodities have sold off pretty good from the highs," he said.
Commodities also are benefiting from a weaker dollar. Since commodities are priced in dollars, a weaker dollar makes them cheaper for investors who use other currencies.
In soft commodities such as sugar and coffee, prices fell enough to draw investors back into the market, said Jack Scoville, vice president of Price Futures Group. There also are tighter inventories for both, which are supporting the prices.
Coffee for September delivery rose 12 cents to finish at $2.63 a pound. That's an increase of 9 per cent since Aug. 1 and 50 per cent from August 2010.
The price spike came a day after J.M. Smucker Co said it would lower prices on its coffee products by 6 per cent on average to reflect the cheaper cost of beans. The company produces Folgers, Millstone and Dunkin' Donuts brands.
September sugar increased 1.45 cents to 29.49 cents a pound at day's end. The price is up nearly 2 per cent this month and 52 per cent from August 2010.
In other trading, December gold rose $8.80 to $1,793.80 an ounce after hitting $1,797.60 an ounce in earlier trading.
September silver increased 53.2 cents to finish at $40.351 an ounce, September copper climbed 3.8 cents to $4.032 a pound, October platinum rose $22.70 to $1,840.80 an ounce and September palladium increased $19.40 to $775.90 an ounce.
Oil also rose, pushed higher by an unexpected drop in US gasoline supplies and a weaker dollar.
Benchmark West Texas Intermediate crude for September delivery increased 93 cents to finish at $87.58 per barrel.
In other Nymex trading for September contracts, heating oil rose 2.9 cents to finish at $2.9616 per gallon, gasoline futures increased by 1.65 cents to $2.8703 per gallon and natural gas rose 0.1 cent to $3.933 per 1,000 cubic feet.
Agricultural contracts were mixed. September wheat rose 2.75 cents to finish at $7.275 a bushel, December corn fell 2 cents to $7.255 a bushel and November soybeans increased 17.25 cents to $13.6675 a bushel.
Tuesday, August 16, 2011
World cotton production forecast 2011 -2012
World cotton production forecast 2011 -2012 : World cotton production in 2011/12 is forecast at a record high of 122.7 million bales, a 7-percent increase from the preceding year as producers respond to favorable market prices and a much improved credit environment. While 2011/12 production is expected to decline in the United States, gains in other major producing countries such as Australia, China, India, Pakistan, and Uzbekistan, are expected to result in the global all-time high.
Brazil is forecast to produce 8.7 million bales in 2011/12, up 2 percent from a year ago. Brazil’s 2011/12 crop size is expected to reach a new record, as yields are expected to recover from losses due to insufficient rainfall in 2010/11. The United States is forecast to produce about 16.6 million bales in 2011/12, down 12 percent from the previous year as severe drought conditions caused high abandonment in Texas. Harvested area in both the United States and Brazil is forecast below 2010/11.
Australia’s 2011/12 crop is forecast at a record 4.5 million bales, up 7 percent from the previous year. Harvested area in Australia is expected to decline 7 percent from the preceding year to 550,000 hectares, but the proportion of high-yielding irrigated area is expected to rise. China and India—the world’s leading cotton producers—are forecast to produce 33.0 million bales and 27 million bales in 2011/12, up 8 percent and 6 percent, respectively, from a year ago. China’s 2011/12 crop area is expected to increase 7 percent from the previous year, to 5.5 million hectares, while India’s area is expected to rise 8 percent to 12.0 million hectares. Pakistan and Uzbekistan are forecast to produce 10.3 million bales and 4.3 million bales in 2011/12, up 17 percent and 5 percent, respectively, from the previous year. Pakistan’s 2011/12 harvested area is forecast at 3.3 million hectares, a 3-percent increase from a year earlier. Global 2011/12 cotton area is forecast at 35.4 million hectares, an increase of 6 percent from the preceding year. The global yield in 2011/12 is forecast at 755 kg/ha, the highest in 3 years.
World cotton trade is forecast at 37.6 million bales, up 7 percent from a year earlier and the largest in 4 years. Australia’s 2011/12 exports are forecast to increase 69 percent from the previous year, to 4.4 million bales. In Brazil, 2011/12 exports are forecast to rise 85 percent from a year ago, to 3.7 million bales. Anticipated 2010/11 bumper crops in Australia and Brazil are expected to result in record exports in the two Southern Hemisphere countries.
Exports from the African Franc Zone (AFZ) are forecast to increase 18 percent from a year ago, to 2.4 million bales. Uzbekistan’s 2011/12 exports are forecast at 3.0 million bales, up 13 percent from the previous year. The United States—the leading global exporter—is forecast to export 12.3 million bales in 2011/12, a 15-percent decline from a year ago. India, the world’s secondlargest cotton exporter, is forecast to export 5.0 million bales in 2011/12, unchanged from the previous year.
Brazil is forecast to produce 8.7 million bales in 2011/12, up 2 percent from a year ago. Brazil’s 2011/12 crop size is expected to reach a new record, as yields are expected to recover from losses due to insufficient rainfall in 2010/11. The United States is forecast to produce about 16.6 million bales in 2011/12, down 12 percent from the previous year as severe drought conditions caused high abandonment in Texas. Harvested area in both the United States and Brazil is forecast below 2010/11.
Australia’s 2011/12 crop is forecast at a record 4.5 million bales, up 7 percent from the previous year. Harvested area in Australia is expected to decline 7 percent from the preceding year to 550,000 hectares, but the proportion of high-yielding irrigated area is expected to rise. China and India—the world’s leading cotton producers—are forecast to produce 33.0 million bales and 27 million bales in 2011/12, up 8 percent and 6 percent, respectively, from a year ago. China’s 2011/12 crop area is expected to increase 7 percent from the previous year, to 5.5 million hectares, while India’s area is expected to rise 8 percent to 12.0 million hectares. Pakistan and Uzbekistan are forecast to produce 10.3 million bales and 4.3 million bales in 2011/12, up 17 percent and 5 percent, respectively, from the previous year. Pakistan’s 2011/12 harvested area is forecast at 3.3 million hectares, a 3-percent increase from a year earlier. Global 2011/12 cotton area is forecast at 35.4 million hectares, an increase of 6 percent from the preceding year. The global yield in 2011/12 is forecast at 755 kg/ha, the highest in 3 years.
World cotton trade is forecast at 37.6 million bales, up 7 percent from a year earlier and the largest in 4 years. Australia’s 2011/12 exports are forecast to increase 69 percent from the previous year, to 4.4 million bales. In Brazil, 2011/12 exports are forecast to rise 85 percent from a year ago, to 3.7 million bales. Anticipated 2010/11 bumper crops in Australia and Brazil are expected to result in record exports in the two Southern Hemisphere countries.
Exports from the African Franc Zone (AFZ) are forecast to increase 18 percent from a year ago, to 2.4 million bales. Uzbekistan’s 2011/12 exports are forecast at 3.0 million bales, up 13 percent from the previous year. The United States—the leading global exporter—is forecast to export 12.3 million bales in 2011/12, a 15-percent decline from a year ago. India, the world’s secondlargest cotton exporter, is forecast to export 5.0 million bales in 2011/12, unchanged from the previous year.
Monday, July 18, 2011
Asia Petrochemicals Summit in Phuket, Thailand on 19 & 20 September 2011
Asia Petrochemicals Summit in Phuket, Thailand on 19 & 20 September 2011 : In his testimony, Richard Murray from SABIC Petrochemicals BV wrote that he obtained ‘a very good review of the main issues and growth areas in the industry”. For Tetsuji Ogura from JX Nippon Oil & Energy Corp, 17th APS was ‘very useful’, while Shafi AlAjmi of PIC Kuwait proclaimed it as an “excellent conference”. These sentiments were echoed by many of those who have attended CMT’s annual APS or Asia Petrochemicals Summit since its inception many years ago. As anticipated, CMT has announced the 18th edition of this successful series, to be held on the 19 & 20 September in the resort island of Phuket, Thailand.
The rest of invited speaker panelists contributing at this Phuket meet include:
* Andrew Lee Fagg of Nexant to shed light on the expectations for returning profitability to the petrochemical sector and a new cyclic peak! He will also discuss the global olefins & polyolefins market trends.
* Purvin & Gertz, giving an overview on global feedstock market outlook, the dynamics between LPG, condensates and naphtha, as well as price forecast.
* Gaffney, Cline & Associates with a presentation on the potential of shale gas as an alternative petchem feedstock, investment for export and emerging new petrochemical projects plus their global impact
* Steven Kantorowicz, Vice President, Petrochemicals Asia & Principal Consultant of KBC Advanced Technology Pte Ltd addressing the topic on Innovations in Cracker Technology for Process Optimization.
* Mrs Voravan Chaimuang from IRPC Public Company Limited will present a paper on ‘Styrene & Derivatives Market Outlook in the Next 3 Years’ with 2010 being proclaimed to be the most fruitful year for styrene manufacturing in terms of new added capacities (Business Wire).
* Makarand Dixit, Head of Marketing, Ongc Petro Additions Limited (OPal) to discuss the butadiene market in Asia, and analyze high crude C4 price vs availability.
* Ewe Ee Foong, EVP, Development of ChemOne Holdings Pte Ltd as he gives insights into the development and challenges in putting together the Jurong Aromatics project and
* Jayant Dhobley, President, Asia Pacific, DSM Engineering Plastics Asia Pacific plugs in a downstream session with a presentation on Engineering Plastics outlook in Asia.
The rest of invited speaker panelists contributing at this Phuket meet include:
* Andrew Lee Fagg of Nexant to shed light on the expectations for returning profitability to the petrochemical sector and a new cyclic peak! He will also discuss the global olefins & polyolefins market trends.
* Purvin & Gertz, giving an overview on global feedstock market outlook, the dynamics between LPG, condensates and naphtha, as well as price forecast.
* Gaffney, Cline & Associates with a presentation on the potential of shale gas as an alternative petchem feedstock, investment for export and emerging new petrochemical projects plus their global impact
* Steven Kantorowicz, Vice President, Petrochemicals Asia & Principal Consultant of KBC Advanced Technology Pte Ltd addressing the topic on Innovations in Cracker Technology for Process Optimization.
* Mrs Voravan Chaimuang from IRPC Public Company Limited will present a paper on ‘Styrene & Derivatives Market Outlook in the Next 3 Years’ with 2010 being proclaimed to be the most fruitful year for styrene manufacturing in terms of new added capacities (Business Wire).
* Makarand Dixit, Head of Marketing, Ongc Petro Additions Limited (OPal) to discuss the butadiene market in Asia, and analyze high crude C4 price vs availability.
* Ewe Ee Foong, EVP, Development of ChemOne Holdings Pte Ltd as he gives insights into the development and challenges in putting together the Jurong Aromatics project and
* Jayant Dhobley, President, Asia Pacific, DSM Engineering Plastics Asia Pacific plugs in a downstream session with a presentation on Engineering Plastics outlook in Asia.
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