June 22, 2024

Brazilian Cotton Exports To Surpass Those From US In 2023-24

Cotton exports from Brazil are expected to reach 2.8 million tons in the 2023-24 marketing season, an increase of 12 percent compared to the previous month’s forecast.

“The volume, which is 300,000 tons greater than the last estimate, would place Brazil as the main global exporter of cotton, surpassing the USA,” a report from StoneX, a consultancy pointed out.

According to StoneX, the forecast is for a harvest of 3.5 million tons, an increase of 2 percent compared to the previous forecast and an increase of 11.1 percent as against the previous season.

The report added that the revision is result of an increase in planted area, mainly in Mato Grosso and Bahia, as well as an expectation of higher average productivity, driven mainly by Bahia region.

The consultancy however cautioned that the in the coming weeks, the climate should continue to be closely monitored, mainly in the Central-West region.

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