GENEVA — The global cotton industry is likely to continue to see declines in price and demand next year as the economic downturn intensifies, said experts at a recent conference hosted by the United Nations Conference on Trade & Development.
“In the short term, the cotton market looks rather unsettled,” said Brian Moir, senior economist with the U.N. Food & Agriculture Organization. “The present crisis will continue to affect cotton consumption. Consumers are likely to spend less, both by moving downmarket and by deferring purchases, and some processors will have difficulties. Factories will close, thus creating further problems for raw cotton.”
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