LOS ANGELES, Feb. 07, 2022 (GLOBE NEWSWIRE) -- This year, cotton prices are to keep growing, according to a new report published by IndexBox. In 2021, the average cotton price surged by 41% to $2.23 per kg. Despite the global cotton production rebounded after a 2020's drop last year, reaching the pre-pandemic level of 26.3M tonnes, growing demand outstrips supply.
In H1 2022, cotton prices are projected to increase, as global production at the beginning of the year is lower than in the previous months due to smaller crops in India and the U.S. This year, the average annual cotton price is expected to pick up 5% y/y to approx. to $2.34 per kg. Instigated by boosting demand and high domestic cotton prices, China is forecast to ramp up imports sharply, also stimulating the price rally.
Global Cotton Lint Exports by Country
In 2020, the amount of cotton lint exported worldwide was estimated at 9.4M tonnes, picking up by 5% compared with the previous year's figure. In value terms, supplies contracted to $14.6B.
The U.S. (3.8M tonnes) represented the major exporter of cotton lint, mixing up 41% of total exports. Brazil (2.1M tonnes) held the second position in the ranking, distantly followed by India (960K tonnes). All these countries together held near 33% share of total supplies. Greece (289K tonnes), Benin (280K tonnes), Nigeria (212K tonnes), Australia (170K tonnes) and Burkina Faso (167K tonnes) followed a long way behind the leaders.
In 2020, the most notable rate of growth in terms of shipments amongst the key exporting countries was attained by India (+55.9% per year), while exports for the other global leaders experienced more modest paces of growth.
In value terms, the U.S. ($6B), Brazil ($3.2B) and India ($1.4B) appeared to be the countries with the highest levels of exports in 2020, with a combined 73% share of global supplies.
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Companies Mentioned in the Report
Cargill Cotton, Olam International, ACG Cotton Marketing, LLC, Acotex Corporation, Allbright Cotton, Allenberg Cotton Co., AMCOT, America Tongzhou Cotton Trading Inc., American Cotton Shippers Association, Autauga Quality Cotton Association, Baco Trading, Barrentine Company, Brighann Marketing, Calcot, Cam Cotton LLC, Caney Valley Cotton Company, Carolinas Cotton Growers Cooperative, CC Cotton LLC, Chesnutt Cotton Co., Choice Cotton Company, Cofco Agri, Commodity Export Corp., ECOM USA, Farmcot Inc, Glencore Ltd., Greenbelt Cotton Company, Jabbour Cotton Co., Panamerica Commodities, Toyo Cotton Company, Turley Cotton Co.
Sources
World - Cotton Lint - Market Analysis, Forecast, Size, Trends and Insights
U.S. - Cotton Lint - Market Analysis, Forecast, Size, Trends and Insights
India - Cotton Lint - Market Analysis, Forecast, Size, Trends and Insights
China - Cotton Lint - Market Analysis, Forecast, Size, Trends and Insights
Asia - Cotton Lint - Market Analysis, Forecast, Size, Trends and Insights
