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Cotton production and exports of Brazil may go up in the current market year (MY) 2021-22 (August 2021 – July 2022) as the area under cotton plantation is expected to rise. The increased production and exports may be attributed to the global cotton price rise, the country weak domestic currency and the decreasing domestic consumption of cotton.
Area of cotton harvested in Brazil went down by 15.43 per cent from 1.62 million hectares in MY 2019-20 to 1.37 million hectares in MY 2020-21, according to TexPro, Fibre2Fashion’s market analysis tool. But it is expected to move up by 5.84 per cent to reach 1.45 million hectares in MY 2021-22.
The country produced 2.72 million metric tons of cotton in MY 2019-20 and 2.46 million metric tons in MY 2020-21. The production in the current market year is expected to go up by 8.95 per cent to 2.68 million metric tons.
Cotton production and exports of Brazil may go up in the current market year (MY) 2021-22 (August 2021 – July 2022) as the area under cotton plantation is expected to rise. The increased production and exports may be attributed to the global cotton price rise, the country weak domestic currency and the decreasing domestic consumption of cotton.
Brazil’s exports have been on the rise. They increased by 25.26 per cent from 1.92 million metric tons in MY 2019-20 to 2.40 million metric tons in MY 2020- 21 and are now likely to touch 2.42 million metric tons in MY 2021-22.
As for the domestic consumption of cotton, it went down by 10.14 per cent to 0.67 million metric tons in MY 2020-21 from 0.74 million metric tons in MY 2019-20, according to TexPro. The consumption is likely to fall again in current MY 2021-22 to 0.63 million metric tons.
Fibre2Fashion News Desk (KD)
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