The current drought conditions in the US cotton belt have raised the chances of Brazil taking over the United States as the largest exporter of cotton in the world.
An official of the Brazilian Cotton Producers Association told the media that the main US-producing region, Texas, is suffering from droughts and heatwaves, said Brazilian cotton industry leader. He said if the US crop continues to deteriorate, Brazil can easily overtake the United States. He pointed out that the two countries are already equal in basic statistics. It is conceivable that Brazil will become the world’s largest exporter this season, he added.
The United States and Brazil account for more than half of the global supply. The United States is expected to export 12.5 million bales in the 2023-24 season. However, due to the drought in Texas, the figure may be reduced. As a result, Brazil, with an export forecast of 11.25 million bales this season, could become the world’s largest exporter.
Another drawback that the US cotton crop faces is the deterioration of quality. Cotton quality “has not been as good” in recent years due to droughts, while Brazil has “very good quality” because of its rainfall pattern, according to agricultural experts.
The US cotton crop is only one grade above its worst level on record, as about 40 percent of its production is coming from drought-stricken areas, including nearly all of Texas, which had the second-hottest summer on record this year.
If the situation persists, many Brazilian farmers are likely to increase the area planted for cotton for next year to export more.
Brazil set to become the largest global cotton exporter
