Global cotton prices hit a new high in 15 years

the Taihua Farmers Research Center believes that the world cotton price, which has risen to a new high in recent 15 years, will have a significant impact on the upstream industry (using cotton as raw material) and even the downstream industry (textiles, clothing and clothing) of Thailand’s entire textile and garment industry, because Thailand’s cotton imports account for 90% of Thailand’s domestic consumption. The main reason for the high price of cotton is that the world’s cotton output is reduced due to the reduction of planting area and natural disasters, while the world’s demand for cotton is increasing. The world’s cotton price is rising due to the expansion of production capacity of major textile and garment producing countries, especially China, and the suspension of cotton flower export by 1ndia, a major cotton exporting country

due to the above factors, countries have taken corresponding measures, such as expanding cotton production, especially the United States, 1ndia, China and Pakistan, which are major cotton producing countries. 1n addition, 1ndia is likely to resume exporting cotton to other countries at the end of this year. 1f so, the world cotton price will be lowered, which will benefit Thailand’s textile and garment industry. However, Thai operators need to closely track and be prepared to deal with various situations, because such problems may occur again, such as closely tracking the world’s cotton production and consumption. 1n addition, in order to enhance the competitive potential of Thailand’s textile and garment industry in the future, all relevant departments, including government departments and private sectors, should pay attention to the research and development of upstream and downstream industries

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