Statistics showing the global consumption of cotton was released by USDA as they published initial world and U.S. cotton outlook for the 2021/22 season in February at the Agricultural Outlook Forum. In Pakistan, Australia, Brazil, the United States, and West Africa, world cotton production is predicted to rise 4.7 percent with the most momentous year-over-year growth. The world stocks are expected to be reduced by 3.2 million bales as production will be exceeded for second year in a row.
As the global economy gets stronger back on its feet after the hit it received during Covid, global consumption is expected to grow by 4.1 percent, substantially above the long-term average rate of 1.7 percent.
For the imports, fabric and yarn will take the lead as their growth rate will be increased. Putting that side by side with lower domestic production. These will be able to maintain state reserve to an optimal level of government-held stocks comprised of both imports and domestic supplies.
China’s consumption is projected to increase at a rate below the world average due to above average growth in 2020/21. China realized an earlier recovery from the impacts of COVID-19 relative to other major consumers, with the resultant 2020/21 consumption growth rate above the world average.
Due to delayed planting, Brazil will be facing lower production. On the contrary, countries that witnessed higher consumption is Bangladesh, Pakistan, Turkey, and Vietnam. These countries are predicted to quickly recover in mill demand as these countries are sought out more for imports in global trade.
