India: Cotton and Products Annual

Post estimates India’s cotton production will decline by nearly two percent to 28.78 million 480-lb. bales in marketing year (MY) 2020/21, due to lower harvested area at 12.64 million hectares. Yields are expected to improve by three percent compared to the previous year on the expectation of a normal monsoon. The uncertainty around the extent and scale of the COVID-19 situation will likely impact long-term cotton consumption and trade. Post estimates mill consumption to decline by 6 percent to 22 million 480-lb. bales. Exports are forecast to rise to 3.5 million 480-lb. bales, while imports are expected to decline to 1 million 480-lb. bales as demand in major European markets and the United States has been affected significantly by COVID-19, leading to the cancellation/deferment of many orders due to market uncertainty.

India: Cotton and Products Annual