Developments and prospects in the international cotton market
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Cotton is a key driver of economic growth, sustaining millions of farmers and families across 80 countries in five continents. It also represents an important source of foreign exchange for a number of low- and middle-income countries.
World cotton trade began to trend upwards in the early 2000s with the implementation of the commitments undertaken at the Uruguay Round of the World Trade Organization (WTO), and is projected to expand steadily over the next decade. Such expansion is expected to be affected by a number of challenges and uncertainties, including income and population growth, policy measures affecting the production and consumption of cotton, the adoption of sustainability standards in supply chain, trade developments and geopolitical tensions.
This policy brief provides an overview of recent developments in the cotton market at national and international levels, and discusses projections and challenges for the world cotton trade over the next decade.