Brazil: Cotton and Products Update
Link to report:
Post revised up Brazil’s MY 2024/25 cotton production forecast to 16.6 million 480lb bales (3.6 million metric tons (MMT)), an 11 percent increase compared to the previous MY. The main drivers behind this record output are a forecasted area increase (revised up to 1.94 million hectares), and better-than-anticipated yields across key producing states. While domestic consumption remains relatively steady, international demand should continue to sustain cotton expansion in Brazil, which surpassed the United States as the world’s largest cotton exporter in MY 2023/24 (Aug 2023 – Jul 2024). Post revised up the MY 2024/25 export forecast to 12 million bales due to increased foreign demand. Outyear ending stocks should remain high, forecasted at 4.8 million bales, as total cotton supply outpaces total use.
