Highlights from the November 2020 Cotton This Month include
– Global consumption is estimated at 24.4 million tonnes in 2020/21
– Global production is anticipated to increase to 24.9 million tonnes in 2020/21
– Production in the United States, Pakistan and West Africa is expected to decrease in 2020/21
– Production in India and China is expected to increase in 2020/21.
The Cotton Supply Chain Continues to Suffer from COVID, Trade Tensions and a Sluggish Global Economy.
The entire world might be tired of the COVID pandemic and simply want to be done with it but it is, sadly, far from done with the cotton industry. Production in 2020/21 (24.9 million tonnes) is projected to outpace consumption by 500,000 tonnes, and many major producers are expected to see their totals drop in the coming year, including the USA, Brazil, Pakistan and West Africa.
Inclement weather and trade conflicts could compound the challenges in some regions, especially the USA, which not only is experiencing an unusually active hurricane season but also is still engaged in a trade war with China.
