WASHINGTON – World cotton consumption fell by 7.6 million bales – 6.4 per cent – in the past month, according figures from the United States Department of Agriculture’s (USDA). This is the largest monthly change in consumption recorded in the USDA database, driven by the devastating impacts of COVID-19. The figures represent a loss of about 3.5 weeks of global spinning or 16 per cent of expected spinning from March through July based on the March USDA forecasts.
The USDA report says COVID-19-driven changes in behaviour and regulations are majorly impacting the supply chain of the cotton sector. Cotton spinning in China fell by upwards of 90 per cent during early March.
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