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Friday, February 23, 2024

Brazilian cotton exports drop 13% in October 2023

Brazil exported 228,877 tons of cotton in October 2023, down 13 percent when compared with the same month of the previous year.

In October, China was the biggest destination for the South American country’s cotton and totaled 162,293 tons, accounting for 70 percent of overall overseas cotton shipments.

China was followed by Bangladesh with 16,158 tons and Vietnam with 14,812 tons in October.

In the first ten months of the current year, Brazilian cotton was exported to 46 countries and regions, of which exports to the top seven markets accounted for more than 95 percent.

The US Department of Agriculture (USDA) has forecast that Brazilian cotton exports in the 2023-24 marketing season will be 11.8 million bales.

“Brazilian cotton exports have been off to a good start so far, but to reach this goal they will need to pick up speed in the coming months,” experts opined.

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