The Brazilian Cotton Growers Association (Abrapa) stated on the 10th that due to China’s strong demand for Brazilian cotton, the country’s cotton exports in May reached 115,243 tons, an increase of 66%year-on-year, and set a new monthly export trade record.
Brazil’s”istoedinheiro” website reported that, according to Abrapa, due to the excellent performance in May, the trade volume of cotton in 2020/21 exceeded the previous quarter. And in 2020/21, Brazil’s cotton exports to China exceed the domestic market consumption.
Abrapa, according to data compiled by the Brazilian Ministry of Economy’s Foreign Trade System, shows that up to now, the cumulative cotton exports in 2020/21 totaled 2.235 million tons, an increase of 23%compared to 2019/20. According to statistics, Brazil exported 23,700 tons of cotton to China in May this year, an increase of 22%over the same period last year.
Data shows that Brazil’s cotton exports to China in 2020/21 have exceeded 700,000 tons. According to estimates by the National Commodity Supply Corporation (Conab), the domestic textile industry’s cotton consumption this year is 680,000 tons.
Abrapa said that China’s cotton trade has so far accounted for about 31%of Brazil’s total exports of this category in 2020/21. Association President Julio Busato said:”We are strengthening our partnership with entities in the Chinese textile industry to maintain the existing scale of foreign trade.”
In addition to China, Vietnam and Pakistan are also big customers of Brazil’s cotton overseas market this year, with their trade volume accounting for 17%and 12%respectively.