The big picture of cotton looks to be a positive one. As the whole world is developing, the demand for cotton is rising as we expected; however, this industry has seen some fluctuations. There is no doubt that the world pandemic has been affecting all different sectors, cotton was invaluable. However, the price of cotton had started to recover on April 2020, until recently, when it faced another challenge.
H&M and other western brands expressed their concern about the alleged use of forced labor to pick up cotton, which was denied by China at the end of March this year. "I don't think a company should politicize its economic behavior," said Xu Guixiang, a Xinjiang government spokesman.
Although the price has been fluctuating in the first half of the year, we have some news that could show direction hints. First, "U.S. Cotton Trust Protocol Recognized by Fashion Magazine Drapers." said Cotton U.S. This is positive news. Also, one of the top three Chinese denim manufacturers, Advance Denim, joined U.S. Cotton Trust Protocol, which is also positive news. Recently, the vaccine has been extensively used. This boosts the economy and brings back confidence to people. This could also surge the demand for cotton.
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