Brazilian Cotton Exports Slower Than Expected In September
Brazilian cotton export in the four weeks of September stood at 63,500 tons, 54,100 tons, 36,400 tons, and 27,000 tons respectively, which indicates a continuous downward trend.
Considering that August to December are peak months for signing contracts and ship and export cotton, the downward trend is against the expectations of the Brazil cotton industry.
Recently, the Chairman of the Brazilian National Cotton Exporters Association (ANEA) had said that between July 2023 and June 2024, Brazil is expected to export nearly 2.5 million tons of cotton.
This forecast of 2.5 million tons is an increase of one million tons over the same months of the previous cotton year.
Considering that US cotton production is expected to be impacted due to the climatic changes in its biggest cotton growing belt of Texas, Braxil was expected to become the number one cotton exporter.
Experts attribute the slow rate of cotton exports to the current high price of Brazilian cotton, when compared with the prices of US cotton, whether bonded, spot or for October-December shipments.
