SE Asia import less cotton

SE Asia import less cotton

WASHINGTON (Reuters): Southeast Asia will import and consume
far less cotton in 1997/98 than in the preceding year due to
currency devaluation and financial disruptions, the Agriculture
Department said Wednesday.

In a monthly report on the world cotton market, the USDA's
Foreign Agricultural Service said turmoil in Southeast Asia had
"reduced prospects for consumption and imports of cotton in
Thailand, Indonesia, Malaysia and the Philippines in 1997/98."

"In October, the regions' consumption and imports were
expected to rise three percent from previous year's levels but
USDA now forecasts a two percent decline in consumption and a
seven percent decline in imports," the report said.

Largest reduction was made in Thailand, with consumption
forecast down nine percent from October and nearly 30 percent
from the previous year.

USDA said the region would import 902,000 tons of cotton and
consume 934,000 tons in 1997/98 compared to imports of 1,001,000
tons and use of 977,000 tons in 1996/97.