Declining consumer confidence slowing cotton con - sportstextiles: Lea SportsTextiles

News

Declining consumer confidence slowing cotton consumption and trade

05/11/2019
Declining consumer confidence slowing cotton consumption and trade
In the November 2019 issue of Cotton This Month, the International Cotton Advisory Committee (ICAC) reported that the US-China trade war is taking its toll on both the global economy and international cotton trade. 
 
Slowing mill use and cotton imports in China (resulting primarily from the economic burden of the US-Sino trade war) are causing a decline in cotton consumption and trade in 2019/20, according to ICAC. The organisation reported estimated projections for global production in the coming year to be 26.7 million tonnes, consumption at 26.2 million tonnes and overall trade at 8.8 million tonnes.
 
Despite India’s low yields of 440 kg/ha (significantly below the global average of 780 kg/ha), the country is expected to lead the world in overall cotton production at 6 million tonnes. China is projected to be the world’s top consumer at 8.05 million tonnes, even though that represents a 2% decrease from 2018/19. 

Mexico and Pakistan are expected to increase their imports by 48% (to 141,000 tonnes) and 8% (to 711,000 tonnes), respectively. The newsletter also predicted that, with production expected to grow by 1 million tonnes and consumption projected to remain flat, prices will be under heavy pressure throughout the year.


Related stories:

Associations celebrate UN resolution on World Cotton Day 07/10/2021
Supply and demand imbalance will lead to price rises for cotton 16/09/2021
ICAC appoints first head of textiles and innovation 21/07/2021
First ICAC annual report says Africa can meet growing cotton demand 25/09/2019
ICAC names cotton researcher of the year 27/08/2019
Nigeria becomes the 29th member of ICAC 05/08/2019

Sportstextiles.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.