Since the November, the inflation and interest rate raising in USA slowed down, the us dollar index dropped and the global cotton price rebounded. As the global clothing consumption keeps decreasing, the cotton price declines after a small rebounce.
According to the International Cotton Advisory Committee, the global cotton output in 2022 is 25 million tons, which increases by 0.3% compared with last year. The total consumption is 24.9 million tons, which dropes by 3.1%. The cotton output in USA and Parkistan drops while increases in China, India, Brazil and Uzbekistan.
In October, the garment export of China had a negative growth. Based on the customs data, the clothing export was usd $13.65 billion in october, which droped by 17% compared with last year. This is the second month of negative growth since the december of 2020.