Cotton Prices In The World Hit A New High In 15 Years: The Thailand Textile Clothing Industry Has Been Hit By A Lot Of Impact
The Thai Farmers' research center thinks that the world cotton price that has risen to nearly 15 years will give Thailand the whole price.
Textile and garment industry
The upstream industry (with cotton as raw material) and even
Downstream industry
(that is, textiles, clothing and clothing) has a major impact, because Thailand's cotton imports account for 90% of Thailand's domestic consumption.
The main reason for the high price of cotton is that the world's cotton production has been reduced due to the reduction of planting area and natural disasters. Meanwhile, the world's cotton demand has increased. As a result of the expansion of production capacity of textile and garment producing countries, especially China, and the suspension of cotton flower exports by India, a major exporter of cotton, the world's cotton prices have risen.
The above factors have led countries to take corresponding measures, such as enlargement.
Cotton yield
Especially the United States, India, China and Pakistan, as the major cotton producers.
In addition, it is possible for India to resume exports of cotton to other countries by the end of this year. If so, world cotton prices will be reduced, which will benefit Thailand's textile and garment industry.
However, Thailand operators should closely follow up and make preparations for all kinds of situations, as this may happen again, such as closely tracking the production and consumption of cotton in the world.
In addition, in order to enhance the competitive potential of Thailand's textile and garment industry in the future, relevant departments, including government departments and private sectors, should attach importance to the research and development of the upstream and downstream industries.
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