Surpassing the US, Brazil leads global cotton exports in 2024. CEPEA report reveals booming production, stable prices, and record acreage trends during the year.
In 2024, Brazil surpassed the United States as the world’s leading cotton exporter as its production increased for the third time in row, while US production as per a report by the Centre for Advanced Studies on Applied Economics (CEPEA).
Driven by strong profitability, advanced technologies, and premium-quality production, Brazil’s cotton cultivation continues to expand yearly. While its domestic demand grows modestly, rising international prices absorb the surplus, helping maintain stable cotton prices in the local market, as per the CEPEA report.
According to the CEPEA/ESAKQ cotton index in Brazil, cotton prices in 2024 ranged narrowly between BRL 3.8063($0.62) and BRL 4.3646 ($0.71) per pound. However, average cotton prices in the country continue to remain 2023 levels throughout most of the year.
In the 2023-24 season, planted cotton acreage in the country increased by 16.9 per cent to 1.944 million hectare—the highest since 1991-92. On the other hand, productivity dipped by 0.18 per cent with production rising by 16.64 per cent to 3.7 million tons. These milestones consolidate Brazil's position as a dominant force in the global cotton market.
