The global cotton market has navigated a highly dynamic period over the past month, marked by a significant price correction after reaching a peak in mid-May. The surge observed on May 11, where the July NY/ICE futures contract touched 88 cents/lb, has since faced downward pressure. Since then, market values slid as low as 71 cents/lb by June 10, although there has been a slight recovery to around 72 cents in recent trading. A similar trend occurred in the December contract, which retreated from its 88-cent peak to approximately 76 cents/lb in recent trading.
For Turkey’s textile exporters, the past three years have been defined by a grueling struggle against rising labor costs, soaring inflation, and intense competition from lower-cost markets. As economic pressures mount and production expenses climb, manufacturers are urgently seeking a competitive edge to maintain their standing in the international arena. For many in the industry, the solution is emerging from an unexpected source: hemp.
The global textile supply chain is bracing for a significant supply squeeze in the coming year. The world’s major cotton-producing powerhouses—China, the United States, and Brazil—are projected to downsize their cotton acreage for the 2026-27 planting season.
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