Global Demand for Cotton Declines Due to COVID-19 CrisisMay 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
The Crop Biotech Update is a weekly newsletter of ISAAA, a non-for-profit organization. The CBU is distributed for free to over 23,000 subscribers worldwide to inform them about the key developments in biosciences, especially in agricultural 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:
- Scientists Clone SARS-CoV-2 Genome Using Quick Yeast-Based Method
- COVID-19 Treatment Efforts Using Plant Technologies
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?
- Scientists Discover Plant Molecular "Alarm" System Protects them from Predators
- Comparative Genomics Helps Reduce Spread of Bacterial Canker in Tomatoes
Plant Breeding Innovations
- CRISPR-Cas9 Used to Study Genes Involved in Grapevine Disease Symptoms
- International Plant Biotech Experts Weigh in on New Breeding Technology Regulations
Subscribe to CBU: