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The global demand for cotton exceeded 26 million tonnes (MT) during the 2021-22 season and is expected to remain at a similar level during the 2022-23 season as well.

The robust demand for cotton has pushed the prices up more than 70% YoY. Cotton production in key countries is expected to vary in the next season: in the USA, production is projected to decline by nearly 6% as farmers switch to food crops, gains are expected in countries like Brazil (3.9%), China (1.9%), India (12%).

Cotton production in Pakistan is estimated to decline following massive flooding in the country. The International Cotton Advisory Committee  (ICAC) has reduced the estimated cotton production for Pakistan from 1.5 million tonnes to 1 million tonnes for the next season.

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