Pakistan’s cotton production is expected to reach 5.3 million bales during the upcoming fiscal year 2021-22. Bad weather in the US and low prices at the time of plantings will lead to a 4.9 percent decline in global cotton production in 2020-21. Fitch pointed out that cotton consumption declined by a sharp 13.4% in 2020 due to the Covid-led economic recession and lockdowns. However, it expects consumption to rebound in 2021, by 12.7 percent on a year-on-year basis.
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