Bertan Balçık, Chairman of the Board of the National Cotton Council (UPK), stated that production in the USA will decrease by 40 percent due to the drought and said that yield losses are also expected in India and China.
Balçık said, “We imported about 250 thousand tonnes more cotton than we needed in July. With 50 thousand tonnes of domestically produced cotton, we will not have a big problem on the supply side. In order to minimize the supply shortage in the coming years, we have to ramp up the existing cotton production capacity of Türkiye to 650-700 thousand hectares. We should do this production by creating a new certified, sustainable Turkish Cotton Standard and supporting our producer.”
Pointing out that it will not be possible to foresee the impact of the expected contraction in production on prices, Bertan Balçık explained, “It has been stated in the market that there has been a 10 percent contraction in the apparel side and a 20 percent contraction in the textile side in orders since June in Türkiye”
“The fact that the industrialist has difficulty in keeping prices due to inflation and soaring cost increases also has an effect on this,” he added…