While orders of USA and EU in ready-to-wear and apparel industry move forward to Turkey from Far East countries on top of China, exports in October this year, reached 1.9 billion dollars with an 19.6 increase compared to the same month last year.
Due to the new type of coronavirus (Covid-19) epidemic, the market shrinkage in ready-to-wear and apparel products originating from the Far East, especially in China, positively reflected the demand for Turkish cotton.
In the “Cotton Analysis Report” prepared by the Product Desks of the Ministry of Agriculture and Forestry, which has been created to monitor critical agricultural products, the impact of the Covid-19 epidemic on the sector was scrutinized.
Accordingly, it is estimated that 25.2 million tonnes of fibre cotton will be produced in 32.6 million hectares of land across the world in the 2020/2021 production season and consumption will be 24.8 million tonnes.
On the other hand 2.2 million tonnes of seed cotton production realised in Turkey last year, however according to Turkish Statistical Institute’s (TURKSTAT) second estimate, 1.9 million tonnes of seed cotton is expected in this season.
While the measures implemented by major producer and consumer countries so as to stop Covid-19 negatively affecting consumer demand for textiles and apparel, world cotton prices decreased.
But later on cotton prices rose again in October due to demand from some countries, reaching the highest point since the start of Covid-19. While the world cotton price was 1.40 dollars per kilogram in April, the average price in October rose to 1.65 dollars.