Global demand for cotton drops
13/05/2020
Writing in a recent issue of the University of Georgia’s Cotton Team Newsletter, Ms Liu described a reduction in cotton mill use across major cotton spinning countries, including China, India, Pakistan, Bangladesh, Turkey, and Vietnam.
In China alone, cotton spinning fell by some 90 percent at one point. And while the country’s spinning industry has begun to recover, Ms Liu said the anticipated decline in consumer consumption of apparel will limit the extent of the recovery for the current marketing year. She also said that, as the virus spreads elsewhere, other spinning countries are likely to experience the same.
Retail sales of clothing and textiles across the globe have also plummeted, she wrote. This she attributed to the closure of businesses deemed non-essential, such as apparel stores, and growing unemployment which leaves consumers with less money to spend.
The forecast for current year’s world cotton consumption dropped 6.4 percent (7.6 million bales) in April 2020 compared to March 2020, said Ms Liu. The current forecast of world cotton demand is at 111 million bales, while the world cotton supply is 122 million bales.
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