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ANALYSIS: Agrimoney's White Paper - Cotton: Covid and Beyond

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Today Agrimoney publishes a White Paper on cotton.

 

Called Cotton: Covid And Beyond this examines the global cotton supply-chain in the wake of the global Covid-19 pandemic.

 

Cotton is a truly global agricommodity - it’s produced in more than 80 countries and is massively traded.

 

The reaction of policymakers to this previously unknown and, for many deadly virus, when cases started to multiply apparently without control, included widespread impositions of lockdown measures - which closed high streets and threw retail spending into disorder.

 

The International Monetary Fund (IMF) in April estimated that global growth would shrink by 3% this year; by June it was forced to conclude that it would shrink by 4.9%. It hinted however that further revisions might be necessary, saying "there is a higher-than-usual degree of uncertainty around this forecast".

 

The global repercussions have been incalculable - in Bangladesh for example, which is the world’s second-biggest apparel manufacturer after China, over 1m garment workers (25% of the total) lost their jobs as orders disappeared almost overnight.

 

The Covid-19 pandemic - which so far has seen around 750,000 deaths and more than 20m cases - is not yet over. Some policymakers still seem determined - in New Zealand, for example - to "stamp out" sporadic outbreaks of the virus - while others (notably in Sweden) have taken a more relaxed view.

 

Covid-19 has disrupted many aspects of our life and has created disarray in the demand for and supply of clothing. While consumers have been kept away from high street spending, on-line and remote purchases have rocketed.

 

Agrimoney believes it is essential that its clients are kept as well-informed as possible about all the major agricommodity markets. Although the ramifications of the Covid-19 pandemic are still far from settled, we believe that this report provides a timely snapshot of what the longer-term implications are for the cotton world.

 

Read now

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