GAIN Reports from August 30, 2023

The following GAIN reports were released on August 30, 2023. _______   China: Cotton and Products Update Marketing year (MY) 23/24 cotton production is lowered to 5.9 million metric tons (MMT) on reduced planted area and raised for MY 22/23 to 6.68 MMT on higher planted area and reported volumes of classified Xinjiang cotton. Imports for MY 23/24 are raised slightly to 1.9 MMT on lower yarn imports and People's Republic of China (PRC) issuance of 750,000 metric tons (MT) of additional sliding-scale import quota. China's textile and apparel industry continues to face significant headwinds in the form of competition from South and Southeast Asia, lackluster overseas demand, and a weakening domestic economy.   European Union: Stone Fruit Annual In MY 2023/24, EU production of peaches and nectarines is estimated to amount to 3.6 million MT while cherry production is anticipated to amount to 657,435 MT. Unfavorable growing conditions in main producing Member States support the reduction in cherry production, while in peaches and nectarines, improved production levels in Spain offset poor performance registered in Italy. EU fresh stone fruit consumption has come under pressure due to the high inflation rate derived from the conflict in Ukraine.   Mexico: Cotton and Products Update Post forecasts marketing year 2023/24 production at 1.1 million 480-bales, a 30 percent decline compared to the previous year due to higher input costs and lack of access to new genetically engineered seed varieties. Local industry and government officials project output from the recent crop harvests will be significantly lower than in previous years. Consumption is forecast to decline due to slow growth in domestic demand, increased competition from synthetic fibers and yarn imports from Asia, and the peso's appreciation against the dollar.   For more information, or for an archive of all FAS GAIN reports, please visit gain.fas.usda.gov/. Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need to use your email address to log in. If you have questions or problems with the subscription service, please visit subscriberhelp.govdelivery.com. This service is provided to you at no charge by USDA Foreign Agricultural Service. This email was sent to stevenmagallanes520.nims@blogger.com using GovDelivery Communications Cloud on behalf of: USDA Foreign Agricultural Service · 1400 Independence Avenue, SW · Washington, DC 20250