Despite a 10 per cent drop in exports compared to 2022, Brazil managed to retain its position as the world's second-largest cotton exporter in 2023. The Brazilian Association of Cotton Producers (Abrapa) reported shipments of 1.618 million tons, generating $3.07 billion in revenue.
Brazil’s 2022-2023 cotton harvest suffered from unfavorable climate conditions, reducing the available volume for export.
The Russia-Ukraine war and the conflict between Israel and Palestine also impacted demand for cotton in Brazil, points out Abrapa.
However, despite the overall decline, Brazil’s cotton exports surged by 24 per cent in H2FY23 spanning between July and December. Brazil’s cotton shipments reached 1.194 million tons during the quarter, accounting for 74 per cent of the total annual exports.
While Brazil faced challenges in 2023, maintaining its position as the second-largest cotton exporter demonstrates the industry's resilience and potential for further growth. The positive trend in exports during the latter half of the year indicates a possible recovery in the future.
