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Pic: USDA/FAS
As the world economy recovers from the severe 2020 downturn, global cotton consumption is expected to grow by 4.1 per cent in 2021-22 season, substantially above the long-term average rate of 1.7 per cent, according to the
US department of agriculture (USDA). This will be the second consecutive year when world consumption will exceed production.
World cotton stocks are expected to reduce by 3.2 million bales, according to the initial world and US cotton outlook for the 2021-22 season released by USDA in February at the Agricultural Outlook Forum.
Meanwhile, world cotton production is expected to rise 4.7 per cent with the most significant year-over-year growth in Pakistan, Australia, Brazil, the United States, and West Africa, the Foreign Agricultural Service (FAS) of the USDA said in its March 2021 report 'Cotton: World Markets and Trade'.