Cotton demand pacing toward record high level

An ag economist says global cotton demand could reach a record high this year, levels not seen since the great recession.

CoBank’s Rob Fox tells Brownfield the market is being amplified by supply chain disruptions.

“Spinners making thread and so on can’t get the cotton on time and therefore there’s not enough fabric and everybody is scrambling to get cotton supplies at the moment,” Fox said.

And he said the trend will likely continue.

“The demand is rip-roaring, China is buying – they’re selling out of their strategic cotton stocks and they’re trying to refill those with U.S. cotton and other origins,” he said.

Fox said cotton prices have risen more than 50 percent in the last year.

Rob Fox interview

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