According to statistics from the Brazilian National Cotton Exporters Association, Brazilian cotton exports slowed down at the end of the 2019/20 season, but the cumulative export shipments are still expected to reach 1.93 million tons.
According to the organization, due to the impact of the new crown epidemic, shipments of some Brazilian cotton contracts have been postponed but not cancelled. The Brazilian industry is still full of expectations for the 2020/21 year, and cotton export volume is expected to be the same as or even exceed this year. After a period of partial social isolation, activity is resuming in many industries in Brazil.
Before the COVID-19 epidemic caused lower demand and lower prices, Brazilian cotton exports were expected to reach 2.1 million tons in 2019/20, a decrease of 150,000 tons year-on-year due to cotton originally scheduled to be shipped from April to June. Shipment will be postponed to the second half of the year. Although Brazilian cotton exports in 2019/20 were lower than expected, exports still increased by 50% year-on-year due to increased cotton production and increased imports from China.
Currently, Brazil 2020 New cotton harvest is about to begin, and cotton production is expected to be close to 3 million tons, with superior quality. In 2020/21, as many contracts are signed in advance, Brazilian cotton exports are still expected to reach 2 million tons. The decline in the Brazilian real exchange rate has also kept Brazilian cotton exports competitive. </p
