WASHINGTON, DC – USDA’s Economic Research Service is projecting FY 2021 cotton exports to fall to $5 billion, down $400 million from 2020 due to a shorter domestic crop and increased foreign competition. Unit values are also down due to sharply reduced demand from the economic slowdown caused by COVID-19 and record stocks outside of China. FY 2020 U.S. cotton exports are forecast at $5.4 billion, up $200 million from the May forecast due to greater volumes but brisk shipments to China underpin a stronger-than-expected pace.
(SOURCE: Economic Research Service)