Ministry Of Agriculture And Rural Areas: Supply And Demand Situation Of Cotton In March 2020

This month, China's cotton production is not adjusted in 2019/20. Affected by the new crown pneumonia epidemic, domestic and foreign economic downward pressure has increased, textile and clothing consumption has decreased significantly. In 2020 1-2, China's textile and apparel exports were US $29 billion 830 million, down 20% from the same period last year. Taking into account the late recovery factor, the annual cotton consumption will be cut 300 thousand tons to 7 million 730 thousand tons this month, the import volume will be reduced from 100 thousand tons to 1 million 700 thousand tons, and the final inventory will be increased from 200 thousand tons to 7 million 130 thousand tons. The global cotton supply and demand pattern is loose, affected by the worries of the development of the epidemic, cotton prices will remain low at home and abroad, and the cotton price forecast interval of the new year will remain unchanged.