Brazilian Cotton Exports Set to Break Records in June
By ashish wagh 2024-06-19 16:54:11
Brazil's June Cotton Exports Are Expected to Break All Records
Brazilian cotton exports in June are poised to reach record highs, driven by strong international demand and favorable export prices, according to the Centre for Advanced Studies on Applied Economics (CEPEA). Data from the Secretariat of Foreign Trade at the Ministry of Economy (SECEX/ME) indicates that Brazil has already exported 50.34 thousand tons of cotton in the first five working days of June. This figure is nearing the total exports for the entire month of June 2023, which was 60.3 thousand tons.
The daily export average has surged to 10.07 thousand tons, a significant increase from the 2.87 thousand tons per day recorded in June last year, marking a rise of 250.5 percent. If this export rate continues, June's total cotton exports are projected to reach 200 thousand tons, setting a new record for the month, CEPEA reported in its latest fortnightly update on the Brazilian cotton market.
From August 2023 to mid-June 2024, Brazil has shipped 2.4 million tons of cotton, reflecting a 65.8 percent increase compared to the same period in the previous season, which saw 1.45 million tons exported.
