Cotton Outlook: Global Demand Lowered Significantly Due To COVID-19

The April U.S. Department of Agriculture (USDA) cotton projections for 2019/20 (August-July) include substantial adjustments to the supply and demand balance, compared with the March projections. As the impact of the COVID-19 pandemic continues to unfold, a developing global economic slowdown with little precedent is expected to significantly reduce global cotton demand and trade in the near-term.