Global Cotton Supply And Demand Reverse, Textile Enterprise Profits Continue To Weaken

Global cotton supply and demand reversed. In terms of international cotton market, cotton supply in the northern hemisphere further increased, 85% of American cotton harvest was completed, and more than half of Indian cotton was sold. The new variant further hit market sentiment, with US consumer confidence falling to a nine month low in November. According to the global production and demand forecast of the International Cotton Advisory Committee in December, the consumption of 2021 will be adjusted to negative growth for the first time. It is estimated that the global cotton consumption in 2021 will be reduced by 390000 tons to 25.63 million tons compared with the previous period, with a year-on-year decrease of 0.1%; Compared with the previous period, the cotton yield increased by 10 000 tons to 25.73 million tons, an increase of 5.9% year on year; The inventory consumption ratio was 79.8%, with a year-on-year increase of 0.5%. The implementation of blockade measures in many countries has further cast a shadow on the global cotton consumption prospects and weakened the textile and clothing consumption demand. The textile industry order situation in Southeast Asia is facing a test.