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Saturday, July 20, 2024

Brazil may see a quantum leap in cotton acreage in the new season

On expectations of a reduction in acreage of corn and soybean, Brazil may see a record and quantum leap in cotton cultivation area to 1.94 million hectares in the 2023-24 season.

Brazilian farmers seem to be shifting their preference to planting cotton instead of corn and soybean in the new season, which will boost cotton acreage to record levels,” President of Agroconsult André Pessôa said.

Following this increase in cotton acreage, Agroconsult has forecast cotton production at 3.7 million tons in the new season compared to an estimated 3.2 million tons in the current and 2022-23 seasons.

According to Pessôa, the higher interest among Brazilian farmers to plant more cotton is that cotton did not experience the same price decline as soybeans and corn because of the Israel-Hamas conflict.

Pessôa added that production costs, which had reached Brazilian Real 18,000 in the past season, are now hovering between Real 12,000 and 14,000, making it profitable for cotton growers and the main reason for the rise in cotton acreage.

Pessôa also stated that Brazil surpassed the US in cotton output. In the current season, Brazil produced 3.2 million tons as against 2.9 million tons in the US, and the difference will be more tremendous next season.

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