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2019 ‘jingle bells’ for Brazilian Cotton Exports; 2020 Hopes Run High

21 Dec 2019 12:27 pm
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Mumbai (Commodities Control) - Brazilian cotton producers had every reason to smile in 2019 with expanded acreage, high yields, and strong prices, according to the Brazilian Association of Cotton Producers (Abrapa).

Brazil harvested 1.6 million hectares of cotton in 2019 with good yields being reported.

Brazilian producers had forward contracted 70% of their anticipated cotton production earlier in 2019 for over $0.70 cents per pound before prices started to weaken. Even with the weaker prices during the second half of 2019, farmers are still pleased with the overall results for 2019.

Brazil's cotton exports to Asian markets were strong in 2019 thanks to the trade dispute between the United States and China. In fact, Brazil's cotton exports hit record levels during October and November. Brazil is now the second leading cotton exporter in the world only behind the United States.

The state of Mato Grosso is Brazil's leading cotton producing state. In Mato Grosso, more than 90% of the cotton will be produced, after the first crop of soybean is harvested. Planting of the 2020 safrinha cotton crop in Mato Grosso will begin in January.

Abrapa is expecting positive results in 2020 as well. The acreage and yields in 2020 are estimated to be similar to 2019 and Brazilian farmers have already forward contracted 35 to 40% of their anticipated 2020 production.


       
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