US Cotton Shipments to Thailand Expected to Drop Sharply, USDA Says
Thailand's imports of U.S. cotton are expected to “decline significantly” this year compared to 2019-2020, the U.S. Department of Agriculture Foreign Agricultural Service reported April 2. The country’s total cotton imports are expected to fall 21% from the previous year,…
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USDA said, adding that spinners are still concerned about the slow global pandemic recovery, which caused a sharp dip in demand for textiles and garments. The agency added that “key foreign customers” for cotton, including China, Japan and the European Union, have reportedly canceled, suspended or delayed payments for orders since the beginning of the pandemic. Although cotton trade is expected to pick up next year, consumption will remain “far below” the five-year average due to the slow COVID-19 pandemic recovery.