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HomeNews & ViewsIndustry FocusEstimation says 11.8% global cotton consumption to be dropped

Estimation says 11.8% global cotton consumption to be dropped

In May 2020, the Cotton This Month estimates that global cotton demand is expected to fall by 11.8%, with global trade dropping to 8,26 million tonnes in 2019-20 due to a collapse of the global economy and a drop in the supply chains. According to the study, while vaccinations or remedies can be hoped for or warmer weather in the Northern Hemisphere can minimize the effect of COVID, there can be no real economic recovery even if the health restoration is initially achieved. Whether or not, the success of public policy determines how we fall into a global downturn – a protracted recession with unemployment hitting 33 per cent.

In 2020/21 the global area is projected to fall by 4 percent to 33 million hectares and, despite plantations, India is still the world leader. Production will decrease to 25 million tons by a comparable amount. For the end of 2019-20 average of the A Index, the Secretariat has revised its current price forecast by 71.4 US cents per pound this month. The A Index ‘s price forecast is 56.9 cents per pound for the year-end 2020/21 average this month.

 

 

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