Brazilian Cotton Exports Soar as Prices Remain High Throughout 2022/23 Harvest
Jul, 24, 2024 Posted by Gabriel MalheirosWeek 202430
Cotton lint prices for export remained above those in the Brazilian domestic market for nearly the entire 2022/23 harvest, which ends this month. This trend favored the shipment of the product abroad over domestic purchases, according to a bulletin from the Center for Advanced Studies in Applied Economics (Cepea) at Esalq/USP, published on Wednesday (24/7).
Currently, approximately 90% of the cotton produced in Brazil is exported.
The following chart shows Brazil’s exports of cotton shipped in containers between January 2021 and May 2024. The information featured below comes from Datamar’s leading maritime intelligence service DataLiner.
Cotton Exports from Brazil | Jan 2021 – May 2024 | TEU
Source: DataLiner (click here to request a demo)
Data from Cepea indicate that, as of July 22, the average value of exported cotton lint was R$ 4.6326 per pound, which is 13% higher than the Cepea/Esalq domestic indicator of R$ 4.1061 per pound.
According to the Foreign Trade Secretariat (Secex), Brazil exported 2.64 million tons of cotton during the 2022/23 harvest (from August 2023 to July 2024), an increase of 82.3% compared to the entire 2021/22 season.
These figures underscore the significant shift towards exportation in Brazil’s cotton market, driven by more favorable international prices throughout the harvest period.
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