This briefing examines how the commodity cotton is performing globally and in the largest countries in terms of cotton supply and consumption of its products. The report also provides data and analysis for cotton prices and supply, imports and exports of cotton products and top consuming industries as well as global economic forecasts. The supply, consumption and main consuming industries overview provides benchmarks against other countries globally.
This report comes in PPT.
Driven by rapid urbanisation, population and income increases, and substantial economic growth in developing countries, mostly in Southeast Asia, textiles utilisation is projected to further rise maintaining high demand for cotton. In addition, rising popularity of sustainable products and natural fibres are expected to further strengthen demand for cotton.
Due to sustainability issues and changing consumer preferences, the popularity of recycled cotton (or reclaimed cotton) is expected to grow going forward. Cotton recycling reduces the usage of water and chemicals, and exploits fewer natural resources. Companies are already including more recycled cotton into their assortments. For example, global retailer of outdoor clothing Patagonia for the autumn 2022 season offered cotton clothing of which 34% was made with recycled cotton. Nevertheless, once recycled cotton cannot be recycled again.
Cotton production remains highly susceptible to the warming climate and adverse weather events, such as heatwaves, floods and droughts along with rising global water scarcity. Adapting crop management, conserving and improving soil condition, increasing crop diversification, protecting soil from erosion, as well as the development of drought-tolerant varieties, will be key to withstand the intensifying climate challenges.
Digital innovations allow cotton producers to better monitor and manage crop production, increase productivity and improve production quality, while big data analysis provides opportunities for better process management and production planning. Innovations in technologies are set to play an important role in future agriculture development, mapping resources and offering cost-cutting solutions and production improvements.
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