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Tuesday, June 25, 2024

Brazil to become world’s largest cotton exporter in 2024

SAFRAS Consultoria has adjusted the Brazilian projection of area sown with cotton to 1.86 million hectares in the 2023-2024 harvest year, which is an increase of 11 percent over the 2022-2023 harvest.

“Due to this revision, Brazil’s cotton production has a potential to reach 3.36 million tons in the 2023-24 season, making it the world’s largest exporter of cotton in 2024,” the analysis said.

This development will also help Brazil overtake the United States and become the third-largest producer in the world in the 2023-24 season.

According to the SAFRAS Consultoria analysis, the Brazilian area sown with cotton should be more significant than initially expected, with fiber taking first place instead of corn and soybeans.

“The fact is that the adverse climate should lead some producers to prefer cotton planting to possible replanting of soybeans,” the analysis stated.

“The profitability of cotton is better than corn, and it is also a factor that stimulates the growth of the area with cotton,” SAFRAS added.

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