Brazilian cotton is expected to continue to increase production next year

Xinhuanet Brasilia, October 11 (Reporter Liu Wei) Brazilian cotton industry experts in Sao Paulo said on the 11th that because of China’s large-scale import momentum, Brazil’s cotton production is expected to continue to increase next year, and it is likely that it will rank among the top five in world cotton production. name.

Brazil's news agency quoted Arroyo Cunha, director of the Brazilian Cotton Research Institute, as saying that the country’s cotton production this year reached 1.96 million tons, a substantial increase of 63% from the 1.2 million tons in 2010. Cunha predicted that in 2012 Brazil’s cotton production will continue to maintain its momentum of increasing production, at least to exceed the 2 million tons mark.

Cunnia attributed the increase in production mainly to the increase in cotton prices in the international market. He said that the price of cotton rose to a record high of 2.195 dollars per pound in March this year, almost three times the price of the previous year. This has caused many Brazilian farms that originally produced grain to start investing in cotton production.

Kunya said that the current world economic recovery has slowed down and the international market price of cotton has fallen to 1.03 US dollars per pound. But as long as the price stays above $1 per pound, Brazilian cotton producers will profit. In addition, China’s strong import momentum also benefits Brazilian cotton production. From January to September this year, Brazil exported 104,000 tons of cotton to China, which was a year-on-year increase. China has become the largest buyer of Brazilian cotton.

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