Global Demand for Cotton Declines Due to COVID-19 Crisis
May 13, 2020| |
The rapid spread of COVID-19 has severely affected the global demand for cotton, the University of Georgia (UGA) reported. Cotton is one of the major crops produced worldwide and also ranks as the third most planted biotech crop in 2018 based on global area.
The forecast for 2020's world cotton consumption decreased significantly by 6.4% in April compared to March. This was evident in the cotton mill use across all of the major cotton spinning countries such as China, India, Pakistan, Bangladesh, Turkey, and Vietnam. In China, the spinning industry has started to recover but it is not expected to go back to normal in the current year because of the anticipation of a decline in consumer consumption of apparel.
UGA projects that the decline of global cotton demand, trade uncertainty, increased levels of global competition, and economic recession due to the COVID-19 crisis all factor into continued downward pressure for U.S. cotton prices.
Read more from UGA.
| |
You might also like:
- USDA Approves GE Low-Gossypol Cotton
- GM Approval Database: Cotton
- Bt Cotton Approved for Planting in Kenya
Biotech Updates is a weekly newsletter of ISAAA, a not-for-profit organization. It is distributed for free to over 22,000 subscribers worldwide to inform them about the key developments in biosciences, especially in biotechnology. Your support will help us in our mission to feed the world with knowledge. You can help by donating as little as $10.
-
See more articles:
-
News from Around the World
- Global Demand for Cotton Declines Due to COVID-19 Crisis
- Bolivia to Speed Up Evaluation of GM Crops
- Review Shows Biotechnological Strategies to Develop Drought Resistant Crops
- Plants Have Memories, But How Do Plants Forget?
-
Research Highlights
- Scientists Discover Plant Molecular "Alarm" System Protects them from Predators
- Comparative Genomics Helps Reduce Spread of Bacterial Canker in Tomatoes
-
Plant
- CRISPR-Cas9 Used to Study Genes Involved in Grapevine Disease Symptoms
- International Plant Biotech Experts Weigh in on New Breeding Technology Regulations
-
Health
- Scientists Clone SARS-CoV-2 Genome Using Quick Yeast-Based Method
- COVID-19 Treatment Efforts Using Plant Technologies
-
Read the latest: - Biotech Updates (April 17, 2024)
- Gene Editing Supplement (April 10, 2024)
- Gene Drive Supplement (February 22, 2023)
-
Subscribe to BU: - Share
- Tweet