February 26, 2024
Cotton

Brazil Remains Second Largest Global Cotton Exporter In 2023

Brazil maintained its status as the world’s second largest cotton exporter in 2023, despite an annual decline of around 10 percent.

“Brazil shipped 1.618 million tons of cotton in 2023 and generated revenue of US $3.07 billion in the year,” the Brazilian Association of Cotton Producers (Abrapa) said in a statement.

“The 2022-2023 harvest was impacted by adverse climate effects and, as a result, we had a smaller volume to export and the global situation was also challenging,” Abrapa President Alexandre Schenkel said.

According to the association, the Russia-Ukraine and Israel-Palestine armed conflicts have damaged the world economy.

“With the instability in international markets, the upward trend in both inflation and interest rates continued, slowing economies of several countries,” the association added.

“The result was a drop in demand for cotton, with textile industries operating at a slower pace throughout 2023 and, consequently, importing less,” it observed.

74 percent of 2023 Brazilian cotton exports or 1.194 million tons were shipped between July and December, higher by 24 percent as against cotton exports recorded in the same period in 2022.

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