In 2024, Brazil overtook the United States to become the world's largest cotton exporter, a position the United States had held since the 1993-94 cotton season. This milestone was achieved after Brazil's cotton production increased for the third consecutive year. The 2023-24 season planted area increased by 16.9%, reaching the highest level since the 1991-92 season, and production also reached a record 3.7 million tons.
Brazil has become the world's largest cotton exporter in 2024, overtaking the United States, which has held the position since the 1993-94 cotton harvest. According to the Center for Advanced Studies in Applied Economics (CEPEA), the shift comes after Brazil's cotton production increased for the third consecutive year while U.S. production declined.
Driven by profitability, technological advances and quality products, cotton cultivation in Brazil is expanding year by year. In its latest bi-weekly report on the Brazilian cotton market, CEPEA said that while domestic demand grew only slightly, the rise in international prices balanced the growing surplus and maintained cotton prices in the local market.
In 2024, the Brazilian CEPEA/ESALQ cotton index price fluctuated within a narrow range. The lowest price was 3.8063 reais (about $0.62) per pound and the highest was 4.3645 reais (about $0.71) per pound. Despite these fluctuations, average prices for most of the year remained below 2023 prices.
Brazil's planted area for the 2023-24 season increased significantly by 16.9% over the previous year to 1.944 million hectares, the highest since the 1991-92 season. Productivity, however, fell slightly by 0.18 per cent. Nevertheless, this season's production is estimated at a record 3.7 million tonnes, up 16.64% compared to the previous season. These figures indicate Brazil's strengthening position in the global cotton market.
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