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Friday, February 23, 2024

Brazil ships a high volume of cotton between Aug & Nov

In just four months, from August to November 2023, the volume of Brazilian cotton lint shipped represents half of the quantity shipped in the 2021-22 season.

“From August to November 2023, 770,220 tons have already been shipped, more than half of the volume exported or 1.449 million tons from August 2022 to July 2023,” reports stated.

Even amid logistical bottlenecks, such as high freight rates and queues at port terminals, Brazilian cotton lint shipments from the 2022-23 harvest have been performing well.

“Brazilian exports of cotton lint totaled 253,710 tons in November, 12 percent above October 2023, but 5.5 percent lower than in November 2022,” data from Secex showed.

The average value of exported lint was US $0.9407 per pound in November 2023, an increase of 7.4 percent month on month and 5.9 percent year on year.

Data released by the Mato-Grossense Institute of Agricultural Economics shows that 77.76 percent of the 2022-23 season has already been sold in the largest Brazilian-producing state of Mato Grosso.

However, this is below the 84.26 percent recorded in the same period of the previous harvest year and below the past five-year average of 86.29 percent.

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