According to the International Cotton Advisory Committee (ICAC), the cotton industry is responding well, and production is expected to rise by 3% in 2021/22 to reach 25 million tonnes. Earlier, the coronavirus won the battle in 2020/21, driving down global cotton production to 24.2 million tonnes, a decline of 7% from the season before. The other highlights of the reports suggest that cotton consumption posted a 12.4% increase to 25.5 million tonnes in 2020/21, with a similar performance expected in 2021/22.
On the bright side, global cotton consumption and trade have seen a welcome recovery in the 2020/21 season, with consumption increasing by 12.4% to reach 25.5 million tonnes, with a similar trajectory projected for 2021/22. However, Covid-19 has proven to be very stubborn; recent reports from Bangladesh and Vietnam indicate that Covid infections are on the rise, so lockdown-induced factory closures and shipping problems are still significant threats, leaving manufacturers scrambling to fill their orders.
The following factors will lead the drive increase:
• The USA, which is projected to reach 3.8 million tonnes, up 22% from the season before,
• India, whose production is expected to remain high in 2021/22 (5.9 million tonnes)
• Brazil has not announced its production area and forecasts yet because sowing will not begin until November but should still reach about 2.3 million tonnes.
On the bright side, global cotton consumption and trade have seen a welcome recovery in the 2020/21 season, with consumption increasing by 12.4% to reach 25.5 million tonnes, with a similar trajectory projected for 2021/22. However, Covid-19 has proven to be very stubborn; recent reports from Bangladesh and Vietnam indicate that Covid infections are on the rise, so lockdown-induced factory closures and shipping problems are still significant threats, leaving manufacturers scrambling to fill their orders.
The ICAC is an association of cotton producing, consuming, and trading countries. It acts as a catalyst for change by helping member countries maintain a healthy world cotton economy, provides transparency to the world cotton market by serving as a clearinghouse for technical information on cotton production and serves as a forum for discussing cotton issues of international significance. For in-depth analysis and information, please visit the ICAC website.
