At the National Cotton Council annual meeting, the National Cotton Council annual meeting is expected to reach the historical high.
Jody Campiche, Vice President, Economic and Policy Analysis, said that due to increased planting area, it is expected that global cotton production will increase to 122.6 million bags by 2022. The global cotton mill is expected to increase to 125 million bags in 2022, which indicates the historical high of cotton demand. With the expansion of the consumption of major importance countries, the world cotton trade is expected to increase to 48.3 million.
At the same time, this year’s cotton prices face up and downstream, so the US Cotton Committee (NCC) made a warning prediction. The organization is considering the increase in cotton planting, the US balance sheet is tightened, supply chain interruption, speculative fund flow and strong demand, etc. Eliminating, world economic activity slows down and the price of artificial fibers is lower, may bring downstream pressure to cotton prices.
The export volume of the US cotton annual is expected to be 13.8 million bags, but due to international capacity, only 4.5 million packages were completed, 11 million balances than 5 years.