India snatches the leadership of cotton from China. The latest forecasts of the International Cotton Advisory Committee (Icac) indicate that India will produce six million tons of this raw material in the 2019-2020 campaign.
However, China will continue to be the main consumer of cotton, with 8.05 million tons, 2% less than the previous campaign. Mexico and Pakistan, meanwhile, will increase their imports by 48% and 8%, respectively.
However, global cotton consumption will decrease in the 2019-2020 campaign. The decrease in consumer confidence will be one of the factors that will slow down the consumption and trade of cotton.
Trade war is also another reason for the reduction of cotton consumption worldwide, according to Icac. Current projections estimate production for this campaign at 26.7 million tons, down 0.12%; consumption at 26.2 million tons, down 0.27%; and general trade at 8.4 million tons, down 0.43%.