Brazilian cotton exports soar 238% in Jan-Apr, driven by China surge

According to Fibre2Fashion's market insight tool TexPro, China’s share was 50.18 per cent of Brazil’s total cotton exports of $1,929.228 million in January-April 2024. China was ranked as the fourth largest buyer with a market share of 12.44 per cent in the same period of the previous year when its trade was valued at $69.376 million. Brazilian cotton exports to China rose 1,295.48 per cent or 1.295 times. Its share also jumped from 12.14 per cent to over 50 per cent.

Among the top five destinations, Brazilian cotton exports to Vietnam were $328.718 million in January-April 2024, which was 18.04 per cent of the total. Bangladesh was the third largest market where cotton exports amounted to $228.037 million (11.82 per cent share). Exports to Turkiye were $114.460 million (5.93 per cent) and Pakistan $104.623 million (5.42 per cent) in the same period.

Global cotton trade fluctuates due to price dynamics and other factors. During January-April 2023, Brazil had exported cotton worth $144.988 million to its top buyer, Bangladesh. This was 25.36 per cent of its total cotton exports of $571.658 million in the said period. Shipments to Vietnam were $117.169 million (20.59 per cent), Turkiye $71.420 million (12.49 per cent), China $69.376 million (12.14 per cent) and Pakistan $62.407 million (10.92 per cent), as per TexPro.

In 2023, Brazil’s cotton exports totalled $3,073.518 million. Shipments to China were valued at $1,498.919 million (48.76 per cent), Bangladesh $393.668 million (12.81 per cent), Vietnam $386.222 million (12.57 per cent), Turkiye $253.348 million (8.24 per cent) and Indonesia $188.710 million (6.14 per cent) in 2023.

Fibre2Fashion News Desk (KUL)